ICBC Asia launches new real-time e-payment system

Riding the wave of the fintech trend, ICBC (Asia) will launch a new real-time e-payment system (e秒轉), to support the Faster Payment System (FPS) introduced by the Hong Kong Monetary Authority.Customers can link their bank accounts to mobile phone number or email address via ICBC (Asia)’s internet banking or mobile banking. The first phrase of the new system will be rolled out on 30 September. Customers will be able to transfers Hong Kong Dollars and Reiminbi fund instantly across banks and stored value facility (SVF) platforms anytime free of charge. Wang Chao ming, deputy chief executive & chief information officer of ICBC (Asia), said, “The FPS is a leapfrogging initiative for Hong Kong’s electronic banking services. By breaking the barriers between banks and the platforms for stored value facilities, it marks yet another important development of fintech infrastructure to help propel Hong Kong into a new era of smart banking.” He added that the new payment system offers local consumers an efficient, convenient, secure, and eco-friendly e-payment experience.