The Hong Kong CBFT (Cross-Border Funds Transfer) Payments API facilitates secure and efficient processing of cross-border transactions, enabling businesses to send and receive funds globally. This API is designed to handle various currencies and support compliance with international payment standards and regulations.

Capabilities

  • Cross-Border transfers: Supports international payments, allowing businesses to conduct transactions with partners and customers globally.
  • Multi-Currency support: Handles payments in multiple currencies, providing flexibility for international trade and financial operations.
  • Compliance and reporting: Ensures compliance with international financial regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements, with detailed transaction reporting.
  • Flexible payment types: Supports various payment types including SWIFT, local clearing, and other international payment networks, providing a versatile solution for different business needs.

Technical requirements

  • Authentication: Use OAuth 2.0 with the Client Credential Grant flow for secure access. Obtain a bearer token from the /v1.0/auth endpoint and include it in the authorisation header as Bearer <access_token>.
  • API Endpoint: CBFT payment requests should be submitted to the /payment/hk/v1.0/cbft endpoint.
  • Headers: Ensure all API requests include headers such as Content-Type: application/json and authorisation: Bearer <access_token>.
  • Payload Format: Submit payment details in JSON format, following the schema specified in the API documentation for CBFT payments.

Key features for developers

  • Secure Cross-Border transfers: Leverage CBFT for secure and efficient international payments, reducing the risk associated with cross-border financial transactions.
  • Real-Time status updates: Monitor payment statuses in real-time, providing immediate visibility into the transaction flow and confirmation of fund transfers.
  • Detailed reporting: Access comprehensive transaction reports that help meet compliance requirements and provide valuable insights into international payment activities.
  • Scalability: Capable of handling high volumes of transactions, supporting routine and peak business operations without compromising performance.

Example workflow

sequenceDiagram participant Client participant Fileactive Client->>Fileactive: POST /v1.0/auth (Obtain Bearer Token) Fileactive-->>Client: 200 OK (Bearer Token) Client->>Fileactive: POST /payment/hk/v1.0/cbft (Submit CBFT Payment) Fileactive-->>Client: 202 Accepted (Payment Processing) Client->>Fileactive: GET /payment/hk/v1.0/cbft/{paymentId} (Check Payment Status) alt Payment Completed Fileactive-->>Client: 200 OK (Payment Success) else Payment Pending Fileactive-->>Client: 202 Accepted (Payment Pending) else Payment Failed Fileactive-->>Client: 400 Bad Request (Payment Failed) end