Answer · Updated 2026-05-23 · Market: HK

How does FPS payment work for restaurants in Hong Kong?

FPS (Faster Payment System) is HKMA's real-time interbank payment rail. The POS generates a dynamic per-ticket QR; customer scans with any HK bank app or e-wallet (Alipay HK, WeChat Pay HK, PayMe, Octopus Wallet); funds settle in real-time with zero or near-zero fees. LOOP auto-reconciles each FPS payment to the originating ticket.

Key facts

  • FPS adoption: 82% HK F&B (2026)
  • Real-time interbank settlement
  • Near-zero fees
  • Works with all HK bank apps + e-wallets