Faster Payment System (FPS)

Smart Tips on Using Faster Payment System (FPS)
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- Smart tips on using of the FPS
- Notify your bank or operator of Stored Value Facility (SVF) immediately of a change in the mobile number, and update your registration records as soon as possible.
- Verify the payment details (either input by yourself or after scanning a QR code) of every single transaction before you confirm the payment.
- It should be noted that the QR code may have embedded your registered FPS proxy identifier (i.e. mobile number, email address or FPS ID) to facilitate transfer to your account. Hence, third party can read this information by scanning your QR code. Please only show it to others when necessary.
- Think before sharing mobile devices. If you have an e-wallet application (app), it’s not the best idea to let a stranger use your phone (e.g. to make a telephone call).
- Do not store usernames, passwords, account numbers and other sensitive information on your phone, including the storage within apps.
- If you find or believe that your mobile devices have been compromised, lost or stolen, or that unauthorised transactions have been conducted over your account, contact your banks or SVF operators as soon as reasonably practicable.
- Enable passwords on your mobile devices. Create a unique password for your e-wallets. Use the benefits of additional layers of security provided by your devices, if available.
- Download and upgrade your apps from official app stores or reliable sources only.
- Beware of fraudulent transactions
- Paying via FPS is similar to paying by cash. The money will be transferred to the recipient account instantly. Therefore, when you make payment for purchasing goods and services, especially in online purchase, you must first ascertain the background and authenticity of the merchant or seller. Only make payment if the merchant or seller is trustworthy. You must also verify the payee information and the amount before making the payment.
- If you suspect you have made a payment via the FPS to a swindler's bank or SVF e-wallet account, please report the case to the Hong Kong Police Force for assistance. On top of reporting the case to the Police, please also contact and update your bank or e-wallet operator about your case. They will provide their best effort to assist the law enforcement agencies and provide them with all the relevant information. The contact details of the Hong Kong Police Force is as follows:
  
  Commercial and Technology Crime Hotline: (852) 2860 5012
  Hong Kong Police Force e-Report Centre:
  https://www.erc.police.gov.hk/cmiserc/CCC/PolicePublicPage?language=en
- Regardless which payment method that you would adopt, for example, online/mobile banking (including FPS service), SVF e-wallet, credit card, ATM or cash, etc., ensure that the payee is genuine and trustworthy before proceeding with the payment. Beware of fraud and take precautions!
What is FPS?
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The FPS is a payment platform on which banks and stored-value facility (SVF) operators are connected. It allows customers to make person-to-person transfers, top up e-wallets and shop online anytime, anywhere, thereby making payments simpler and faster.

Please visit the FPS website for more information.

Why FPS?
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- Convenient
  Require payee's mobile number or email address only
- Cross bank/e-Wallet
  Full connectivity among banks and e-wallets
- Instant Transfer
  Almost real-time fund settlement
- Anytime, Anywhere
  24x7 round-the-clock operation
- Multiple Currencies
  Support HKD and RMB
How to Use FPS?
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- Registration of Addressing Service for Receiving Payments
  1. Customers choose an account to link up with mobile number or email address through internet banking, mobile banking or e-wallets
  2. Go through verification to confirm the mobile number or email address
  3. Customers may link up a mobile number or an email address with more than one bank or e-wallet and set one of them as default receiving account.
  From 6 December 2020 onwards, customers can also link up their HKID number to a bank account for receiving funds by registering through the online/mobile banking of banks. Given the HKID number is a piece of sensitive personal information, this new function is not intended for making person-to-person payments. It will only be used by institutions which already possess the HKID number of the recipients of the payments. Customers may register to use this account proxy depending on their needs.
- Fund Transfer Service
  1. Customers log on internet banking, mobile banking or e-wallets
  2. Input payee’s mobile number or email address (if payee has registered mobile number or email address for receiving
    payments)*
  3. Input payment amount, select default receiving account or another bank or e-wallet registered by payee
  4. Check payee’s masked name and confirm payment amount
  * Customers may also transfer funds by inputting payee’s bank or e-wallet and account number.
- Direct Debit Service (e.g. e-Wallets Top-up)
  1. Customers log on e-wallets and choose top-up account service^
  2. Choose the account with direct debit authorisation
  3. Input the debit amount to be added to e-wallets
  ^ Customers have to authorise banks or e-wallets to debit the account in advance
  
  Note: Details are subject to the services provided by individual banks or e-wallets