Project Location: Dubai, United Arab Emirates
The Digital cashless prepaid system is the one in which transactions are not made by physical money or Banknotes. Instead, users get them transferred by digital means. HSBC Bank has introduced the closed cashless system project for all Employees to pay using Cashless QR Based cards in all HSBC Staff Canteens in UAE. This advancement has come up with so many of the benefits to the HSBC Employees, Canteen operator business, and banking systems.
If we get into the details of why a cashless system is necessary, this kind of cashless system helps speed the transaction process. It helps avoid people from getting gathered up in rush hours in Bank Canteen areas during lunch breaks. Thus, there is no rush around the cashier’s desk. We find the cashless system faster and quicker than other transaction systems and with No Transaction fee as always charged by banks.
- It is the business of HSBC Bank for the satisfaction and happiness of all HSBC Employees.
- As we know, everyone will save time and make transactions secure. But to prevent the further threat, it is a business requirement to introduce a Closed-loop cashless system in all Canteen locations to avoid the hassle of cash from other partners.
- In business, cashless systems eliminate many threats like money or cards being stolen, theft of cash, or even robbery.
Benefits of Cashless Prepaid Card System:
- The cashless system project will enable them to avoid the use of paper-based banknotes.
- Online transactions can be done easily.
- There will be no need to keep cash with you always.
- Portable and small size card.
- Cashless system is secure and fast.
- It is easy to manage.
- A closed-loop cashless system in banks includes digital and adequate financial records for all canteen transactions.
- This system ensures better tracking of the money movement.
- All HSBC Staff can Top-up canteen cards online or via Top-Up Kiosk Stations placed within all Canteen outlets.
- Transactions very fast take less than 1 sec.
- Out of Box system with quick deployment.
- Highly Secured and encrypted technology.
- Online reports can be pulled from the Web portal by all HSBC Admin, Staff, and Canteen operator admins.