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Faster Payment System (FPS; Chinese: 快速支付系統, more commonly known as 轉數快) is a real-time gross settlement [1] payment system in Hong Kong that connects traditional banks and electronic payment and digital wallet operators. [2]
Electronic Payment Services (simplified Chinese: 易办事; traditional Chinese: 易辦事; pinyin: Yì bànshì), commonly known as EPS, is an electronic payment system based in Hong Kong, Macau, and with limited acceptance in Shenzhen since it began operations in 1985.
PayMe was introduced as a standalone mobile app, offering P2P social payment. [14] Users register via a Facebook account or Hong Kong mobile phone number and authorise access to a credit card or local bank account (not necessarily an HSBC account), from which the balance can be topped up, and a bank account to receive money.
The cards are used by 98 percent of the population of Hong Kong aged 15 to 64 [1] and the system handles more than 15 million transactions, worth over HK$220 million, every day. [ 1 ] The Octopus card system was the world's second contactless smart card system, after the Korean Upass .
In 2017, the Hong Kong Monetary Authority (HKMA) began to explore the need to accelerate the development of FinTech firms in Hong Kong, particularly virtual banks.By 2018, the HKMA had begun the application process for a virtual banking license in Hong Kong, with the first deadline being 31 August 2018. [1]
JETCO was founded by the Hong Kong Branch of the Bank of China (now Bank of China (Hong Kong)) in 1982 along with the Bank of East Asia, Chekiang First Bank, Shanghai Commercial Bank and Wing Lung Bank, and at present covers all banks in Hong Kong and Macau, except for HSBC and Hang Seng Bank, [clarify] which uses a separate system known as ETC ().
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eNETS is an online payment gateway services. It enables payment from all major credit cards and currencies as well as Direct Debit (internet banking payments) from the major banks in Singapore and China, including DBS (Singapore and Hong Kong), UOB, OCBC, Citibank and BNU.