Starting from noon on Sunday, the 17 million registered users of Hong Kong’s FPS will be able to remit up to HK$10,000 per day to 298 million users on the mainland’s IBPS
China’s financial authorities have granted Hong Kong residents a new daily remittance quota for the yuan, as a cross-border electronic transactions service prepares to kick off, linking 315 million users between the city and the mainland.
Starting from noon on Sunday, the 17 million registered users of Hong Kong’s Faster Payment System (FPS) will be able to remit up to HK$10,000 (US$1,282) per day for each bank account to 298 million users on the mainland’s Internet Banking Payment System (IBPS) via the Payment Connect.
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