Domestic
PAYMENTS SIGNAL · REFERENCE CARDHong Kong FPS — the Faster Payment System
Riya sends HKD 600.00 to Arjun at night using only his mobile number. The Faster Payment System resolves that proxy to his account, moves the money almost immediately, and settles the interbank leg on the HKMA book.
Actors
- Riya (payer)customer
- Bank Alfa (sending bank)bank
- FPS / HKICLinfrastructure
- Nordbank (receiving bank)bank
- Arjun (payee)customer
- HKMA / CHATS (settlement)infrastructure
Messages
- FPS payment instruction
- FPS addressing lookup
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | Instruction — Riya pays using Arjun's mobile number | Riya → Bank Alfa | message |
| 2 | Proxy lookup — FPS resolves the proxy to Arjun's account | Bank Alfa → FPS | message |
| 3 | DR Riya — Bank Alfa debits Riya | Bank Alfa | posting |
| 4 | CR Arjun — Nordbank credits Arjun almost immediately | Nordbank → Arjun | posting |
| 5 | HKMA book settlement — The interbank leg settles on the HKMA book | HKMA / CHATS → Nordbank | settlement |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Proxy does not resolve | The mobile number or FPS ID Riya used is not registered to any account in the FPS addressing directory, so there is no destination to pay. | Never left Riya's account — no debit was ever booked. · No settlement occurred; the payment failed before the interbank leg. | Riya — Riya checks the mobile number or FPS ID and re-enters it, or asks Arjun to confirm his registered proxy. |