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Standard Chartered Hong Kong Launches 'Faster Payment System' Cross-Border Payment Service
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Standard Chartered Hong Kong announced that it has become one of the first banks in Hong Kong to launch a 'Faster Payment System' cross-border payment service. This service allows for real-time and 24x7 processing of payment transactions up to HKD1 million or RMB1 million for overseas financial institutions and payment technology companies. Payments exceeding HKD1 million or RMB1 million will continue to be processed through the 'Real Time Gross Settlement System'. Under this new model, Standard Chartered Hong Kong acts as an agent bank, receiving cross-border payments from overseas financial institutions and payment technology companies via SWIFT, and then making transfers to local recipients through the 'Faster Payment System', replacing the traditional 'Real Time Gross Settlement System' method. (ha/j) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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