The Hong Kong RTGS (Real-Time Gross Settlement) Payments API provides a secure and efficient method for processing high-value and time-critical transactions in real-time. Designed for interbank transfers, the RTGS system ensures that payments are settled instantly and irrevocably on a transaction-by-transaction basis.

Capabilities

  • High-Value transactions: Supports large-scale, high-value payments, making it ideal for business-to-business transactions, treasury operations, and financial market settlements.
  • Immediate settlement: Transactions are settled in real-time, ensuring immediate transfer of funds between participating banks, reducing settlement risk.
  • Final and irrevocable payments: Once processed, payments are final and cannot be reversed, providing certainty and security in financial transactions.
  • 24/7 Operations: The RTGS system operates continuously, allowing transactions to be processed at any time, supporting global financial operations across different time zones.

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: RTGS payment requests should be submitted to the /payment/hk/v1.0/rtgs 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 RTGS payments.

Key features for developers

  • Secure High-Value transfers: Leverage RTGS for secure, real-time processing of large financial transactions, reducing the exposure to settlement risk.
  • Real-Time transaction monitoring: Track payment status and confirmations in real-time, allowing for immediate visibility and control over financial flows.
  • Guaranteed settlement: All transactions processed via RTGS are final and irrevocable, ensuring confidence and reliability in payment processing.
  • Scalability for business needs: Capable of handling high volumes of transactions, supporting both routine and peak business activities without performance degradation.

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/rtgs (Submit RTGS Payment) Fileactive-->>Client: 202 Accepted (Payment Processing) Client->>Fileactive: GET /payment/hk/v1.0/rtgs/{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