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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.
EPS is a Hong Kong only system and is widely accepted in merchants and government departments. However, as UnionPay cards are accepted more widely overseas, consumers can use the UnionPay functionality of the bank card to make purchases directly from the bank account. Visa debit cards are uncommon in Hong Kong. The British banking firm HSBC's ...
UnionPay decal on the door of a dining hall in Chiba, Japan. With the approval of the People's Bank of China (PBOC), China UnionPay was launched on 26 March 2002, in Shanghai by PBOC governor Dai Xianglong, The Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and the China Construction Bank served as its first members. [6]
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...
On 10 October 2005, all Belgian Bank's branches were rebranded as ICBC (Asia). This merger has resulted in ICBC (Asia) rising to the position of being the sixth largest bank on the Hong Kong Stock Exchange, from its former position of tenth. In November 2010, the company said it had obtained shareholder approval to take the Hong Kong unit ...
The Clearing House Automated Transfer System, or CHATS, is a real-time gross settlement (RTGS) system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited (HKICL), a limited-liability private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks ...