HSBC Expanded Virtual Card Payments in Asia Pacific
The integration streamlines procurement and travel workflows for businesses operating in Hong Kong, Singapore, and Malaysia.
Updated on Sept. 22, 2026 in Financial Services
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HSBC and Conferma have expanded their virtual card payment integration to the Asia Pacific market, including Hong Kong, Singapore, and Malaysia. This platform allows companies to automate reconciliation and integrate payments directly into their procurement and travel workflows.
Why it matters
Organizations are increasingly prioritizing deeper integration with existing finance and procurement systems to reduce manual processing. This expansion addresses the need to improve working capital management by automating transaction data capture.
The industry's embedded payment transaction value is projected to reach $228 billion by 2028. This growth highlights the increasing reliance on integrated digital finance tools compared to manual legacy systems.
The players
HSBC
A global banking and financial services organization with a primary focus on international trade and commercial banking.
Conferma
A financial technology provider specializing in virtual card payment solutions for business travel and procurement.
The details
The technology allows businesses to embed virtual cards directly into existing enterprise resource planning (ERP), procurement, and accounts payable platforms. By automating the reconciliation process, companies can capture granular transaction data without manual intervention. The integration simplifies how teams manage travel and vendor spending by embedding payment data directly into the workflow.
Timeline
• The collaboration between HSBC and Conferma began in 2011.
• The Asia Pacific expansion was announced on September 22, 2026.
• The embedded payment transaction value is projected to hit $228 billion by 2028.
Market Landscape
This move follows the broader industry trend of integrating payment layers directly into enterprise resource planning to replace manual reconciliation. It positions HSBC and Conferma to capture a share of the growing embedded finance sector as companies shift away from disjointed payment software.
Operators in the region should assess whether their current accounts payable platforms can support virtual card integration to automate reconciliation. Reducing manual data entry through these automated systems can significantly improve visibility into working capital and vendor spend.
The takeaway
Automating procurement workflows through virtual card integration is becoming a standard move for managing operational efficiency at scale. Finance leaders should audit their current payment processes to see if integrating transaction data into ERP platforms can eliminate manual reconciliation tasks.
Further reading
For more on the latest trends in digital payments, visit our Financial Services section.
Source note: This article includes information reported by Financial IT.
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