Online Business On The Up According To HSBC 12/07/2005

According to HSBC, online business transactions have increased by 500% over the past year to a figure of 10.6 million.

Businesses using the bank’s online services have found their convenient and time-saving, especially allied with broadband technology. Through research conducted by Small Business Research Trust, HSBC state that approximately two-thirds of businesses who are internet-connected use a broadband connection.

HSBC claim that on a monthly basis through their online service, they are processing over one million Internet payments.

HSBC’s head of business banking, Simon Wainwright stated: “UK businesses increasingly find online banking a fast and convenient way to carry out transactions and keep track of their finances, freeing up time to spend running the company. Last year, we processed over 10 million online payments for our business customers, three times the number in 2003.”

Mr Wainwright also claims, “Businesses are waking up to the power of the net and seizing the opportunity to free up time and run their business on their terms. We're giving firms the tools to keep a tighter grip on their finances and to bank at their convenience.”