Hong Kong’s Faster Payment System has surpassed 700,000 transactions a day in fintech milestone, says Financial Secretary Paul Chan

Nov 3, 2021 | INVESTING

Hong Kong’s Faster Payment System (FPS) has surpassed 700,000 transactions a day just over three years after its debut, showcasing one of the ways the city is seeking to innovate as a financial technology hub, according to Financial Secretary Paul Chan Mo-po.Speaking at the 2021 Hong Kong FinTech Week conference, Chan said the electronic system for immediate fund transfers and retail payments averaged 740,000 transactions per day worth HK$5.2 billion (US$668 million) at the end of September…

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