- Article
- Managing Cash Flow
- Make & Receive Payments
FortyTwo.sg powers faster, smoother digital checkouts with HSBC
FortyTwo.sg is transforming homes across Singapore with its diverse range of over 30,000 home furnishings and lifestyle products. As one of the market’s leading online retailers, FortyTwo combines a seamless e-commerce experience with local delivery and installation services, making it a trusted choice for both individual consumers and businesses. Founded in 2006, this homegrown brand has pioneered digital-first retail in the region.
The challenge
As e-commerce continues to accelerate in Singapore, FortyTwo observed increasing customer demand for digital payment options. While various options were available on their platform, this was done through arrangements with multiple payment service providers (PSPs).
These arrangements created challenges, including:
- Complex reconciliation and reporting due to differences in reporting standards across their PSPs
- High costs and significant effort to integrate additional payment methods with new providers
Additionally, FortyTwo noted that returning customers had to re-enter card details each time they made a new purchase on their platform, which hampered the customer experience.
This compelled FortyTwo to seek a solution that could streamline their PSP arrangements, standardise reporting, improve the checkout experience on their platform, and support the large volume of digital payments they were receiving.
Simplified payments for FortyTwo
To overcome these challenges, FortyTwo partnered with HSBC Global Payments Solutions (GPS) to implement Digital Merchant Services (DMS). This solution streamlined their payment processes and enhanced the customer experience.
With DMS, FortyTwo can:
- Streamline payment options: Accept Visa, Mastercard, and Apple Pay through a single provider.
- Save time on integrations: HSBC handles all additional payment method integrations.
- Enhance customer convenience: Use network tokenisation to securely store card details for future purchases, improving acceptance rates and reducing fraud risks.
- Simplify reconciliation: Access real-time insights and consolidated reports via HSBCnet.
- Speed up settlements: Enjoy faster, standardised settlement cycles for all payment types.
- Customise the checkout experience: Align the payment process with their brand image using DMS’s tools.
Digital Merchant Services has helped us simplify our collections arrangements, while strengthening security through features like tokenisation. Critically, we have also provided our customers with a faster and smoother checkout process, altogether reinforcing our commitment to convenience and trust.
|
Benefits
- Consolidated acceptance of cards and e-wallets to one provider and platform
- Improved customer experience through provision of wider range of payment options, and ability to store card details for future purchases
- Streamlined reconciliation and reporting with standardised reconciliation reports provided daily and monthly
- Strengthens FortyTwo’s brand image and customer experience with idealised checkout experience
- Improved cash application cycles through standardised settlement times (real-time for PayNow QR, T+1 for card and e-wallet)
- Receive 24x7 support from HSBC through dedicated service and a suite of self-help tools
- Improved payment acceptance rates and overall security
Consumers today demand greater speed and convenience, which places pressure on corporates to enhance their commerce experiences. Our investment into developing solutions such as Digital Merchant Services is therefore key in helping meet this need by bridging critical operational gaps.
|
Disclaimer
© Copyright HSBC Bank 2026. All rights reserved. No part of this document may be reproduced, stored, distributed or transmitted in any form without the prior written permission of HSBC Bank.
Introducing HSBC Corporate & Institutional Banking
Where you are is one thing, what you do next is everything.
