【FPS】Business news! Standard Chartered launches the "Cross-Border Payment Service" — real-time, 24x7 settlement, with a limit of 1 million yuan

SocialAnxietyStaker · 2026-04-01T04:23:19+00:00

Standard Chartered Hong Kong announces that it is among the first banks in Hong Kong to launch the "FPS" cross-border payment service, providing real-time and 24/7 payment transaction services for overseas financial institutions and payment technology companies, with a limit of HKD 1 million or RMB. Mr. Lin Yuantong, Head of Financial Transaction Business for Greater China and North Asia and Head of Global Markets Management at Standard Chartered Hong Kong, stated that the new service will offer overseas financial institutions and payment tech companies quick, convenient, round-the-clock, secure, and lower-cost cross-border payment settlement.Under the new model, Standard Chartered Hong Kong acts as the agent bank, receiving cross-border payment funds from overseas financial institutions and payment tech companies via SWIFT, and then transferring payments to local payees through "FPS," replacing the traditional Real-Time Gross Settlement (RTGS) system.Significantly improving small-amount cross-border payment efficiency------------Mr. Lin Yuantong said that Standard Chartered is proud

SocialAnxietyStaker

2026-04-01 04:23:19

Standard Chartered Hong Kong announced that it has become one of the first banks in Hong Kong to launch the “FPS” cross-border payment service, providing overseas financial institutions and payment technology companies with instant, 24x7 around-the-clock payment transaction services, with a limit of HKD or RMB 1,000,000.

Standard Chartered Hong Kong, together with the head of its Greater China and North Asia financial transaction business department and the head of global markets management, Victor Lam Yuan-dong, said that the new service will provide overseas financial institutions and payment technology companies with fast and convenient, 24x7, secure, and lower-cost cross-border payment settlement.

Under the new model, Standard Chartered Hong Kong, as a correspondent bank, will receive cross-border payment funds from overseas financial institutions and payment technology companies through the Society for Worldwide Interbank Financial Telecommunication (SWIFT), and then make payments and transfers to local recipients via “FPS,” replacing the traditional route through the “Real-Time Gross Settlement (RTGS)” system.

Effectively improving efficiency for small-value cross-border payments

Lam said that Standard Chartered is honored to be one of the first banks in Hong Kong to roll out this “FPS” cross-border payment service, once again highlighting Standard Chartered’s role as a “super-connector,” with distinct advantages in meeting clients’ needs for cross-border banking services. This new “FPS” capability further reinforces Hong Kong’s position as an international financial center, effectively improving the efficiency of small-value cross-border payments in Hong Kong dollars and offshore RMB and extending settlement hours.

As for payment funds above HKD or RMB 1,000,000, transactions will continue to be processed through the “Real-Time Gross Settlement (RTGS)” system.

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