Standard Chartered Hong Kong launches "Faster Payment" cross-border payment service

AASTOCKS
2026.04.01 03:15

Standard Chartered Hong Kong announced that it has become one of the first banks in Hong Kong to launch the "Faster Payment" cross-border payment service, processing payment transactions of up to HKD 1 million or RMB 1 million for overseas financial institutions and payment technology companies in an instant and 24x7 manner. For payments exceeding HKD 1 million or RMB 1 million, transactions will continue to be processed through the "Real-time Payment Settlement System."

Under this new model, Standard Chartered Hong Kong acts as an agent bank, receiving cross-border payments from overseas financial institutions and payment technology companies via SWIFT, and then making payment transfers to local recipients through "Faster Payment," replacing the traditional "Real-time Payment Settlement System" approach

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