Hong Kong FPS

The Hong Kong FPS (Faster Payment System) Payments API enables real-time, instant payments and transfers within Hong Kong. Designed to streamline financial transactions, the FPS API allows businesses to conduct payments between banks and stored value facility (SVF) operators quickly and securely.

Capabilities

• Instant payments: Facilitate real-time payments between different banks and SVFs, ensuring funds are transferred within seconds.
• P2P and B2B transactions: Supports both peer-to-peer (P2P) and business-to-business (B2B) payments, catering to a wide range of financial operations.
• 24/7 Availability: FPS operates around the clock, allowing transactions to be initiated and processed anytime, enhancing operational efficiency.
• Support for multiple identifiers: Payments can be made using various identifiers, such as mobile numbers, email addresses, FPS IDs, and bank account numbers.

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: FPS payment requests are submitted to the /payment/hk/v1.0/fast endpoint.
• Headers: Include essential headers like Content-Type: application/json and authorisation: Bearer <access_token> in all API requests.
• Payload Format: Payments should be submitted in JSON format, adhering to the FPS payment schema outlined in the API documentation.

Key features for developers

• Real-Time processing: Ensure instantaneous transaction processing, significantly reducing payment settlement times and improving cash flow.
• Flexible payment initiation: Utilize various identifiers (e.g., mobile number, email) to initiate payments, offering flexibility in how payments are processed and received.
• Detailed status tracking: Access comprehensive status updates for each payment, providing visibility and control over transaction outcomes.
• Enhanced security: Leverages strong encryption and secure communication protocols, aligning with Hong Kong’s regulatory standards for payment processing.

Example workflow