HKAB Welcomes Implementation of Payment Connect
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2025/06/20 08:54 GMT
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The Hong Kong Association of Banks (HKAB) welcomed the joint launch of the "Payment Connect" by the Hong Kong Monetary Authority (HKMA) and the People's Bank of China (PBOC), the HKAB said.

The HKAB and the local banking industry have been working closely with the HKMA in developing and implementing the linkage of two faster payment systems.

Related NewsCaixin Manufacturing PMI for Jun in China is 50.4, higher than the previous value of 48.3. The forecast was 49.
The linkage of two faster payment systems, naming the Internet Banking Payment System (IBPS) in mainland China and the Faster Payment System (FPS) in Hong Kong will commence on 22 June, supporting real-time, small value, cross-boundary remittances.

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HKAB Welcomes Implementation of Payment Connect
The Hong Kong Association of Banks (HKAB) welcomed the joint launch of the "Payment Connect" by the Hong Kong Monetary Authority (HKMA) and the People's Bank of China...
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