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January 8, 2014updated 04 Apr 2017 4:09pm

Hong Kong introduces consolidated e-payment platform

The Hong Kong Monetary Authority (HKMA) has developed one of the world's first one-stop payment platforms, allowing citizens to receive, pay and schedule bill payments online.

By Hannah Smithies

The Hong Kong Monetary Authority (HKMA) has developed one of the world’s first one-stop payment platforms, allowing citizens to receive, pay and schedule bill payments online.

Developed in a partnership with 23 banks, the Electronic Bill Presentment and Payment (EBPP) is a multi-currency platform that lets users receive, view, manage and schedule payments for various e-bills from their internet banking account.

E-payments and e-billing can be made in Hong Kong dollar, renminbi and US dollar both into mainland China and overseas countries. Online charity donators can also collect receipts through the consolidated system to present against tax.

"For anyone looking to integrate bill presentment and management capabilities into the existing online banking service, the EBPP platform marks a new era of multi-functional and paperless billing processing." said Peter Pang, Deputy Chief Executive of the HKMA.

I hope the public can soon get the most out of the EBPP platform as more banks bill it as a smart service, and as more merchants see it as such."

The government in Hong Kong already plans to adopt the e-bill service by end of 2014 into the Water Supplies Department and Rating and Valuation Department.

Related articles:

HKT, JETCO expands NFC mobile payments

Monitise launches mobile money platform in Hong Kong

 

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