HSBC Acquires OfficeMax Consumer and Commercial Credit Card Portfolios

HSBC North America Holdings’ Business Solutions Group, the commercial arm of the company’s Retail Services business, announced today that it has entered into a strategic alliance to acquire the consumer and commercial credit receivables of OfficeMax®, one of the leading office supply retailers in the United States.

“Our ability to provide customized business payment solutions allows our clients to focus on building their business and sales, while offering their customers flexible credit options,” said Brian Zempel, managing director of HSBC business solutions. “Our number one goal is to build a best-in-class financing program with OfficeMax.”

HSBC Retail Services is a leading issuer of private label credit cards. HSBC’s partnership with OfficeMax is one of the more than 60 active merchant relationships.

“We are excited to be able to provide our customers with world-class credit products in partnership with HSBC,” said Chris Duncan, director of retail marketing for OfficeMax. “HSBC will help us continuously improve our ability to meet our customers’ needs and ultimately help grow our business.”