Hong Kong · Account Transfer · Est. 2018
Hong Kong's Faster Payment System enables 24/7 real-time transfers in both HKD and RMB between banks and stored-value facilities. Uniquely dual-currency by design, it supports proxy-based addressing via mobile number, email, or FPS ID. Operated by HKMA with settlement through the CHATS RTGS system, it has become the backbone of Hong Kong's digital payment ecosystem with 12M+ registrations.
FPS is Hong Kong’s real-time payment system (Account Transfer), launched in 2018. Hong Kongs Faster Payment System enables 24/7 real-time transfers in both HKD and RMB between banks and stored-value facilities.
FPS processed 868.0 million transactions worth $1.1tn in 2025, a year-on-year change of +21.4%.
FPS is operated by HKMA, with instant settlement.
FPS launched in 2018, and today has 20 participating institutions.
FPS supports proxy/alias lookup, ISO 20022 messaging.
Data source: HKMA.
| Capability | Status |
|---|---|
| QR Code Payments | ◐ |
| Wallet Support | — |
| 24/7 Availability | ✓ |
| Cross-Border | ◐ |
| ISO 20022 | ✓ |
| Request to Pay | — |
| Open API | ◐ |
| Alias/Proxy | ✓ |