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
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
Fintech

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

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
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
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