News In Brief - October 19, 2021

October 19, 2021
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Hong Kong’s Faster Payment System experiences an outage over the weekend.

FPS Experiences Weekend Outage, Confirms HKMA

Systems maintenance led to Hong Kong’s Faster Payments Service (FPS) crashing at the weekend, the Hong Kong Monetary Authority (HKMA) confirmed on Sunday (October 17).

The planned system maintenance, which involved a site relocation and system upgrade, was more complicated than previous FPS system maintenance work.

"Due to unforeseen circumstances in the process, the fallback arrangement was triggered as planned, and the system has resumed services,” a press statement released by the HKMA said, apologising for any inconvenience caused.

The system upgrade for the FPS, which allows Hong Kong residents to make account-to-account payments by entering either a phone number or an email address, was originally scheduled for the early hours of the morning. However, the delays meant it did not resume service until 1pm, according to the HKMA.

All FPS services, including real-time fund transfers, were interrupted. The platform, which launched in 2018, provides the free online transfer of money between bank accounts, online shopping and bill and merchant payments.

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