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Fri, 26 Mar 2021, 07:58 am UTC
According to Xinhuanet, YU Weiwen, the President of Hong Kong Monetary Authority, said that the authority is testing Faster Payment System (FPS), a real-time gross settlement payment system in Hong Kong that connects traditional banks and electronic payment and digital wallet operators.
At present, the first phase has been finished. During the next phase, the authority plans to expand to cover more banks.
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