Last updated: 8 October 2020
The Hong Kong Interbank Clearing Limited (HKICL) will be implementing an industry-wide change to the Faster Payment System (FPS) merchant payment services on 6 December 2020. In preparation of this change, HSBC will update your FPS Alias setting by unchecking the ‘Make a Request to Pay’ option.
We’ve identified that one or more of your FPS Alias ID’s has the ‘Make a Request to Pay’ option checked in HSBCnet’s Alias Management service. After 6 December, your FPS Alias will only be able to receive FPS merchant payments made with a QR code when the ‘Make a Request to Pay’ option is checked.
Any payers trying to send you normal FPS payments such as direct payments to your FPS Alias without using QR codes will not be processed.
To continue receiving payments using the QR code, you’ll need to contact your local Client Services representative by 16 October 2020 to set up the HSBC Business Collect service.* If you haven’t set up the Business Collect service by 16 October, your QR code payments may be rejected.
If you don’t use your FPS Alias for payment collection using a QR code, you don’t need to take any action. We will update your FPS Alias settings to uncheck the ‘Make a Request to Pay’ option after 16 October 2020. As a result, you won’t be able to receive payment via QR codes in the future.
Read our Frequently Asked Questions to learn more about the FPS changes in Hong Kong.
If you have any questions, please contact your local Client Services representative.