Hong Kong Monetary Authority - Faster Payment System (FPS) (2024)

To address the increasing market needs for more efficient retail payment services, the HKMA has launched the Faster Payment System (FPS) on 17 September 2018. All banks and e-wallet operators in Hong Kong can participate in the FPS. The FPS enables their customers to make cross-bank/e-wallet payments easily, by entering the mobile phone number or the email address of the recipient, with funds available to the recipient almost immediately. The FPS operates on 24x7 basis and supports payments in the Hong Kong dollar and the renminbi.

Please visit the FPS website for more information.

Related Information

Press Release(s)

Faster Payment System
See Also
What is Faster Payments?SC Pay and Scan & Pay FAQs - Standard Chartered HK Faster Payments Scheme: a quick guide to business-to-business transactions | BVNK Blog FPS - Faster Payment System | Main | HSBC HK

Speech(es)

24 Jan 2024
The Chief Executive of the HKMA’s response on SCIO press conference (Chinese version)
by Eddie Yue, Chief Executive, Hong Kong Monetary Authority
02 Nov 2023
Keynote at the Hong Kong FinTech Week 2023
by Eddie Yue, Chief Executive, Hong Kong Monetary Authority
26 Sep 2023
Welcome remarks at “FPS x SME” Seminar (Chinese version)
by Howard Lee, Deputy Chief Executive, Hong Kong Monetary Authority
22 Nov 2022
Keynote Speech at the Annual Conference of Financial Street Forum 2022 (Chinese version)
by Howard Lee, Deputy Chief Executive, Hong Kong Monetary Authority
31 Oct 2022
Opening Keynote at the Hong Kong FinTech Week 2022
by Eddie Yue, Chief Executive, Hong Kong Monetary Authority
14 Dec 2020
Opening Remarks at China Shenzhen Fintech Global Summit 2020 (Chinese version)
by Edmond Lau, Senior Executive Director, Hong Kong Monetary Authority
06 Nov 2019
Keynote Speech at Hong Kong Fintech Week 2019
by Eddie Yue, Chief Executive, Hong Kong Monetary Authority
10 Jun 2019
Caixin Summit 2019 (Chinese Version Only)
by Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority
17 May 2019
Hong Kong Retail Summit 2019 (PDF File, 1.1 MB)
See Also
Biggest POS payment methods in Hong Kong 2027 | Statista
by Howard Lee, Deputy Chief Executive, Hong Kong Monetary Authority
28 Sep 2018
Welcoming Remarks at the FPS Activation Ceremony (Chinese Version)
by Norman T.L. Chan, Chief Executive, Hong Kong Monetary Authority
29 Sep 2017
A New Era of Smart Banking
by Norman T.L. Chan, Chief Executive, Hong Kong Monetary Authority
(Opening Keynote Speech at HKIB Annual Banking Conference 2017)

inSight Article(s)

R&M Column (Chinese only)

28 Sep 2018
Hong Kong Common QR Code
21 Sep 2018
Have You Registered for Faster Payment System?
06 Oct 2017
Smart Banking

Quarterly Bulletin Article(s)

Other Topics about Financial Market Infrastructure

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