Odaily Planet News Hong Kong Monetary Authority and People's Bank of China are promoting the interconnection of the two fast payment systems, namely Hong Kong's Faster Payment System (FPS) and mainland China's online payment interbank clearing system (IBPS). The target timetable for the technical interconnection of FPS and IBPS is tentatively set for June next year, but several banks in Hong Kong will conduct trials in April, and other banks are expected to participate when it officially launches in June. (Hong Kong Economic Daily)
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Odaily Planet News Hong Kong Monetary Authority and People's Bank of China are promoting the interconnection of the two fast payment systems, namely Hong Kong's Faster Payment System (FPS) and mainland China's online payment interbank clearing system (IBPS). The target timetable for the technical interconnection of FPS and IBPS is tentatively set for June next year, but several banks in Hong Kong will conduct trials in April, and other banks are expected to participate when it officially launches in June. (Hong Kong Economic Daily)