Getting paid in Hong Kong: FPS and other business payment options

Most Hong Kong customers would rather pay by FPS than anything else: it's instant, it works at midnight, and they already have it in their banking app. Here's how a company sets up to receive FPS, what to put on an invoice, the limits and risks, and when another method suits better.

Updated 4 November 2026 · by LAULEGA LIMITED, licensed TCSP (TC000573)

What FPS is

The Faster Payment System, launched by the Hong Kong Monetary Authority in September 2018 (HKMA), links banks and stored value facility (e-wallet) operators so their customers can send Hong Kong dollars or renminbi to each other "almost instantly on a round-the-clock basis" (HKICL, the company that runs it). The system works around the clock, weekends and holidays included, though each bank or e-wallet decides what it offers and when.

Setting your company up to receive FPS

Get an FPS ID. It's a 7- or 9-digit number generated by the system, unique, and linked to one account. "Individuals, merchants and corporates may request an FPS ID" through their bank or e-wallet (HKICL). For a company, it's the cleanest identifier to print on invoices.
Add an email address as a second proxy if your bank allows it for business accounts. A phone number works too, but a company number outlasts any one person's mobile.
Use a QR code. A payee QR code carries your FPS proxy and the name of your bank or e-wallet, and can include the amount (HKICL). Print it on bills or show it at the counter, so customers scan instead of typing.
Check your account supports FPS. Almost all retail banks and e-wallets do, but business accounts at newer providers vary; ask before you print anything. Our business accounts page compares providers, and 818HI's remote-friendly banking guide covers founders abroad.

Recurring payments: direct debit

FPS participants generally support direct debit and electronic direct debit authorisation (eDDA) as well as one-off transfers (HKICL). For subscriptions and monthly fees, a customer authorizes the debit once through their bank, and you collect on schedule instead of chasing transfers. What's offered to business accounts varies by bank, so ask.

Limits, fees and finality

Limits and charges are set by each bank or e-wallet, not by the system (HKICL). A large invoice may hit the payer's daily limit, so say on the invoice how else they can pay.
FPS is like cash. The money moves instantly, so verify payees and amounts before sending, and expect customers to verify you (HKMA). A consistent company name and FPS ID on every invoice makes that easy.
A QR code reveals the proxy embedded in it. Use the company FPS ID, not a director's personal mobile.

Customers on the Mainland

The Payment Connect link between FPS and the Mainland's payment system is for small personal remittances: northbound transfers are capped at HK$10,000 a day and HK$200,000 a year per person, and payees are restricted to personal accounts, with business-to-personal payments such as salaries on a pilot basis (HKMA). It isn't a way for Mainland companies to pay a Hong Kong company's invoices; use an ordinary cross-border transfer.

FPS and the alternatives

Method	Good for	Watch for
FPS (FPS ID, email, QR code)	Local customers paying in HKD or RMB, any time	Your bank's or e-wallet's limits and fees; payments are final
FPS direct debit / eDDA	Recurring bills and subscriptions from local customers	The customer authorizes it once with their bank; support varies by participant
Ordinary bank transfer	Larger local payments	Timing and fees depend on the banks involved
Cards and e-wallets	Online shops and walk-in customers	Merchant fees; an e-wallet issuer must hold an SVF licence (Cap. 584)
International transfer	Overseas clients	Bank and FX charges; a multi-currency business account often helps

E-wallets in Hong Kong are stored value facilities, and issuing one needs a licence from the HKMA (Cap. 584 s.8B), so check that any wallet provider you sign with is licensed. For how payments should be recorded in your books, see Certanta's guides.

An example (invented)

Brightwater Yoga Limited runs classes in Sheung Wan. Drop-in students scan an FPS QR code at the front desk, which carries the company’s FPS ID, never the founder’s mobile number. Members on monthly plans set up an eDDA once, and the studio collects each month. Corporate clients that book workshops pay invoices showing the FPS ID and the bank account details, so a payer who hits a daily limit can switch to an ordinary transfer.

No company yet? Start here.

LAULEGA incorporates your Hong Kong company at a published price and introduces online business account providers that suit founders inside and outside Hong Kong. Once the account is open, getting paid by FPS is a setting in your banking app.

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Frequently asked questions

Can a Hong Kong company receive payments by FPS?

Yes. Individuals, merchants and corporates can request an FPS ID through their bank or e-wallet, subject to what the provider offers (HKICL). Customers then pay to that ID, or by scanning a QR code.

What is an FPS ID?

A unique 7- or 9-digit number generated by the FPS and linked to one bank or e-wallet account. It's a convenient identifier to print on a company's invoices.

Does FPS work on weekends and holidays?

The FPS itself operates 24/7, including weekends and holidays. Each bank or e-wallet decides its own service availability, so check with yours.

Is there a limit on FPS payments?

Limits are set by each bank or e-wallet based on its own risk controls, not by the FPS. For large invoices, give customers an alternative way to pay.

Can Mainland customers pay my Hong Kong company through Payment Connect?

Not for business invoices. Payment Connect supports small personal remittances, with northbound limits of HK$10,000 a day and HK$200,000 a year per person, and payees restricted to personal accounts.

Can FPS be used for recurring payments?

Yes. FPS participants generally support direct debit and electronic direct debit authorisation (eDDA). The customer authorizes it once, and you collect on schedule. Check what your bank offers business accounts.

This guide summarises the HKMA's and HKICL's published FPS and Payment Connect information as of 30 October 2026, and section 8B of the Payment Systems and Stored Value Facilities Ordinance (Cap. 584). Features, limits and fees depend on each bank or e-wallet. It is general information, not financial or legal advice. The example business is invented. Written by LAULEGA LIMITED, a licensed trust or company service provider (TCSP licence TC000573).