Retail Payment Development
Throughout the years, the HKMA continues its effort to enhance the retail payment infrastructure in Hong Kong with a view to providing the public with a wider choice of safe and efficient retail payment instruments and services to suit varying needs. These include, among others, the implementation of Electronic Cheque (e-Cheque) and Electronic Bill Presentment and Payment (EBPP) services.
Electronic Cheque (e-Cheque)
In view of the increasing popularity of Internet banking, the HKMA and the banking sector initiated the development of e-Cheques to provide a more convenient way for bank customers to issue and deposit cheques online. The e-Cheque service was launched on 7 December 2015.
e-Cheque is an electronic counterpart of paper cheque. It provides an efficient and convenient alternative for bank customers to make and receive payments without depriving their rights to use paper cheques or other payment methods. It retains all the basic features and benefits of paper cheques, provides enhanced security features and saves the need for physical delivery and physical presentment. Payment with e-Cheques will become faster, easier and entirely paperless.
To expand the scope of e-Cheque to cover cross-boundary payments, the HKMA cooperated with the Guangzhou Branch and Shenzhen Central Sub-branch of the People’s Bank of China (PBoC) to implement joint e-Cheque clearing between Guangdong province (including Shenzhen) and Hong Kong on 20 July 2016. Under the arrangement, e-Cheques issued by banks in Hong Kong and deposited with banks in Guangdong province (including Shenzhen) will be settled on the next business day.
e-Cheque Service Launching Ceremony (11 December 2015)
Launching Ceremony for Joint e-Cheque Clearing Between Hong Kong and Guangdong Province (22 July 2016)
To help members of the public better understand the e-Cheque service, the HKMA has collaborated with the HKAB to develop the following consumer education materials:
- Press Release
- TV Announcement of Public Interests (API)
(i) TV API 1: e-Cheque service
Transcript (PDF File, 27KB)
(ii) TV API 2 : Smart way of using e-Cheque
Transcript (PDF File, 10KB)
- 2-minute Video Demo
(i) Introduction and benefits of e-Cheque
Transcript (PDF File, 88KB)
(ii) How to issue e-Cheque?
Transcript (PDF File, 239KB)
(iii) How to deposit e-Cheque?
Transcript (PDF File, 87KB)
(iv) Smart tips to use e-Cheque
Transcript (PDF File, 161KB)
- Radio API (MP3 File, 472KB)
Transcript (PDF File, 26KB)
- Poster (JPG File, 510KB)
Accessible version (PDF File, 100KB)
- E-brochure (PDF File, 1.93MB)
Accessible version (PDF File, 47KB)
- E-brochure (Cross-boundary e-Cheque service between Hong Kong and Guangdong province (including Shenzhen)) (PDF File, 989KB)
Accessible version (PDF File, 174KB)
Electronic Bill Presentment and Payment (EBPP)
The HKMA and the banking industry jointly launched the EBPP platform in December 2013. The system provides a one-stop platform for users to receive, manage and schedule payments for electronic bills through their Internet banking accounts. It is a multi-currency and multi-functional platform which supports bill presentments and bill payments in Hong Kong dollars, Renminbi and US dollars. It can also handle a range of transactions including:
(i) Business-to-customer (B-2-C) e-billing and e-payment;
(ii) Business-to-business (B-2-B) e-billing and e-payment;
(iii) Cross-border e-billing and e-payment; and
(iv) Online charity donations and presentment of electronic donation receipts.
Participants of EBPP
The following lists are available on the HKICL website:
The HKMA and the banking sector have developed the following publicity materials to enhance the public awareness of the EBPP service and encourage them to subscribe the service for, among others, Water Bill and Demand for Rates and/or Government Rent.
(A) Publicity materials published in 2013
(B) Publicity materials published in 2015
- TV Announcements in the Public Interests (APIs)
Transcript (PDF File, 31KB)
- 90-second Video Demonstration
Transcript (PDF File, 17KB)
- Radio API (MP3 File, 943KB)
Transcript (PDF File, 26KB)
a. Leaflet (PDF File, 3.68MB) Accessible version (PDF File, 31KB)
b. Brochure (PDF File, 3.96MB) Accessible version (PDF File, 31KB)
- Poster (PDF File, 3.53MB) Accessible version (PDF File, 100KB)
- Press Release