Faster Payment Service news and trends

Typhoon Won’t Delay Hong Kong’s Real-Time Payment Launch: HKMA
B2B Payments // September 19, 2018

Financial service providers in Hong Kong are readying to facilitate real-time payments for both corporate and non-corporate customers as the market’s Faster Payment System (FPS) comes into effect. Reports in Marketing Interactive on Tuesday (Sept. 17) said the Faster Payment System will launch Sept. 30,...

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UK Government Says Country Needs Open Banking Alternatives to Visa and Mastercard

November 22, 2023
The U.K. risks falling behind other nations unless it can create an alternative to its Faster Payment Service. That’s according to a new government-commissioned review on competitiveness in the country’s payment industry, the focus of a Wednesday (Nov. 22) Financial Times (FT) report. According to the FT, that review calls the Faster Payment Service “clunky” and […]