The Faster Payment System allows anyone to sign up with their mobile phone number or email address and transfer money between different bank accounts. Photo: Shutterstock
Hong Kong hits major fintech milestone as half the city’s population signs up for HKMA’s Faster Payment System
- Half the population of the city has now registered for the HKMA service, which enables the free transfer of money between bank accounts via mobile phone
- The development shows Hong Kong is moving quickly into a new era of branchless banking, said officials at the Asian Financial Forum
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The Faster Payment System allows anyone to sign up with their mobile phone number or email address and transfer money between different bank accounts. Photo: Shutterstock
