Headquartered in London, HSBC is one of the largest banking and financial services organizations in the world. HSBC has about 7,500 offices in 87 countries and territories across Europe, the Asia-Pacific region, North, Central and South America, the Middle East and Africa. HSBC is the world’s 7th largest bank, with £2 trillion in total assets.
HSBC outsources credit card processing through its preferred supplier, Global Payments in Atlanta, Georgia. Formerly known as HSBC Merchant Services, Global Payments handles face-to-face, online, and over the phone credit card processing transactions for merchants of all sizes. Global Payments processes payments in 29 countries for more than 2.5 million merchants. It offers quality international services, a vast range of technology, and high-end security and anti-fraud features and tools.
Through Global Payments, HSBC offers a secure online payment gateway, Global Iris, for customer-not-present (CNP) card payment processing. It accommodates online, mail and phone orders. Global Iris Remote is fully integrate into a merchant’s payment page, so the entire transaction takes place on the website. Global Iris is fully compatible with PayPal, so once connected merchants can monitor PayPal transactions through their Global Iris business tool.
HSBC has hit rough patches over the years. In 2012, received a whopping $1.9 billion fine after the U.S. Senate ruled it was guilty of permitting money laundering to major drug dealers and dishonest, and unprincipled nations. Following this ruling, HSBC began “safeguarding,” a process that allowed it to review its accounts to better understand in how they were used. Safeguarding resulted in many, especially smaller businesses, from having the accounts frozen for extended periods of time or closed.