LatAm: HSBC’s new app lets Mexicans manage their credit cards digitally

HSBC has launched a new digital banking service, ‘Control Total’, to enable consumers in Mexico to easily manage their credit cards online. Through the app, HSBC hopes to offer customers greater security and control of their personal finances.

Customers will be able to receive transaction alerts, set spending limits, freeze and unfreeze cards, and put restrictions on certain transactions such as online transactions or block spending in certain shops.

The app will also enable customers to set up blocks based on geolocation, preventing cards from being used outside a determined area or to block a card when it is used far away from the customer’s registered phone.

RFi Group data suggests that the app is a good way to engage with credit cardholders in the market, with three-quarters of Mexican credit cardholders using mobile banking via an app.

The new app is just one of HSBC’s latest initiatives to remain at the forefront of digital innovation in Mexico, which include the development of voice recognition software, the introduction of contactless cards and an in-branch WIFI.

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