Updated on May-2023
greytHR PayNow with HSBC Corporate Internet Banking (CIB) is for our customers who use CIB for salary dispersion. Corporate banking provides financial advice to commercial clients and institutions and promotes financial services and products to help these clients run their operations. With the integration, you can directly deposit your employees’ salaries into their accounts using your HSBC corporate account. This integration is a simple and efficient way of paying your employees' salaries without hassle.
With the greytHR PayNow, you can also ensure the safety of your employees’ data like salary information. This saves time in downloading the information manually/uploading payment instruction files to different banks.
With greytHR PayNow, you can:
Directly transfer salaries from greytHR.
Perform HR & salary processing from a single window.
Credit salaries to any bank account through RTGS, NEFT, and IMPS.
To transfer salaries using the greytHR PayNow feature, perform the following steps:
Register for the greytHR HSBC PayNow feature.
Initiate bank transfer.
Authorize payment from HSBC.
To start using the greytHR PayNow feature, navigate to Payroll > Payout > Bank Transfer.
To register for the feature, perform the following actions:
On the Bank Transfer page, on the HSBC bank banner, click Register Now. The Register Now a pop-up appears.
From the Select Bank dropdown list, select HSBC Holdings plc.
Click Confirm. The registration form appears.
Under the HSBC Registration section, in the Profile ID textbox, enter the profile ID sent by the HSBC team via email.
In the Client ID textbox, enter the client ID shared by the HSBC team via email.
In the Client Secret textbox, enter the client secret shared by the HSBC team via email.
In the Customer ID textbox, enter the customer ID.
In the Account Holder Name textbox, enter the account holder's name.
In the Account Number textbox, enter the valid account number.
Note: Confirm the account number again in the Confirm Account Number textbox.
In the HSBC Public Key, click Upload File. The dialog box opens.
Browse to the folder, select the required file and click Open.
In the Mobile Number textbox, enter the required mobile number.
Select the I agree with the Terms and Conditions checkbox to proceed with verification.
Click Verify to register for the feature.
After registering the HSBC PayNow feature, you can initiate direct deposit via greytHR platform to process salary for your employees. To initiate direct deposit, perform the following steps:
Create a bank transfer
Initiate bank transfer
To process your employees’ payroll, perform the following actions:
From your greytHR Admin login, navigate to Payroll > Payroll Inputs > Salary. The Salary page opens.
From the Search by Emp No/ Name search box, search for the employee for whom you want to process salary.
From the Component Group, ensure the salary components are correct.
Click Process Payroll to process the salary.
To create a bank transfer, perform the following actions:
On the Bank Transfer page, click Create New Bank Transfer. Step 1:Transfer Type section appears.
In Step 1: Transfer Type, select the Direct Debit option.
From the Bank Template dropdown list, select HSBC Direct Debit.
Click Next. Step 2: Select Employees section appears.
From the Employee Filter dropdown list, select the required option to customize the employee search.
Note: You can click the Error button to view records with errors. By default, greytHR displays all records.
Click Next. Step 3: Options section appears.
In the Narration textbox, enter the valid narration.
In Transfer via, select NEFT/RTGS as per your requirements.
Click Finish to create a bank transfer.
After creating a new bank transfer, the page redirects and displays a list of batches and their details. A set of transaction requests combined is called a Batch. To initiate the transfer process for each batch, perform the following actions:
Click the Initiate Direct Debit button to initiate the transaction. A Verify the Transaction pop-up appears. You can also click Download File to download a file or click Close to return to the Bank Transfer page.
Note: You can click the View option under the View column and display the batch details such as payroll, transfer type, branch, bank, name, status, and total amount.
On the pop-up, in the Enter OTP textbox, enter the OTP received on your registered mobile number.
Select the I agree with the Terms and Conditions checkbox.
Click Verify and Initiate to initiate the transaction. A success message appears.
Note: If an employee’s salary is more than two lakhs, then the system automatically sets the transaction type as RTGS. The rest of the employees’ transaction type is set as NEFT.
You must authorize the NEFT payment that you’ve initiated from greytHR’s Bank Transfer page using File Level Authorisation (FLA).
To authorize the payment from HSBC, perform the following actions:
Login to your HSBC account with the valid credentials.
In the Username textbox, enter the relevant username.
Click Continue to proceed further. The Log on to HSBC pop-up appears.
Select Send a notification to my mobile/Generate a security code on my mobile option as per your requirements to complete the authentication process.
Click Continue to proceed further. A pop-up appears.
Enter the OTP sent to your mobile or the security code sent to your mobile. The HSBC Home page opens.
Click the ≡ Menu option. A dropdown list appears.
From Payments and transfers, under the AUTHORISATION option, click File authorisation. The following screen displays the files of the NEFT payments that you initiated from the greytHR Bank Transfer page.
The API transaction comes with the file level authentication which includes the File Level Summary and File Level Detail types.
File Level Summary: This type displays only the summary of the file such as total count and total amount.
File Level Detail: This type displays detailed information of the file such as beneficiary name, amount, and more.
Select the required file and click Review files. A form appears with the details of the selected file.
Click Authorise file to authorize the payment.
Note: You can also click Reject file to reject the payment.
After authorizing the file, the confirmation screen displays the payment status and the details. The payment can be sent for further authorizations based on the authorization structure that is configured at HSBC platform for the account. After successful completion of the payment, the corresponding status displays in your greytHR Bank Transfer page as Paid.
Note: If the payment fails, you can always reinitiate the payment from the Bank Transfer page.
Watch the video to learn more about HSBC:
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