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HKAB Welcomes Implementation of Payment Connect
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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. 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. AASTOCKS Financial News Website: www.aastocks.com |
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