FINANCIAL SERVICES | Staff Reporter, Hong Kong

Hang Seng Bank extends FPS QR code payment solution to 1,000 merchants

Retail merchants can provide their customers with an additional contactless payment option at the point of sale.

Hang Seng Bank is extending the scope of its QR code payment collection solution to offer additional support for its commercial clients in offering convenient services to customers, an announcement revealed. 

Leveraging the Faster Payment System (FPS), the solution will be rolled out in phases to over 1,000 retail merchant outlets, enabling their customers to make real-time payments for goods and services by simply swiping a QR code at the point of sale.

An estimated 1,000 retail merchant outlets currently use Hang Seng’s all-in-one digital payment collection platform, Hang Seng One Collect, which enables commercial customers to accept a wide range of digital payment methods through one integrated point-of-sale (POS) terminals. The new FPS QR code will be integrated into the same POS terminal for retail payment collection.

According to Donald Lam, head of commercial banking at Hang Seng, the FPS QR code payment solution is already available to Hang Seng’s corporate clients to collect payment on bills sent out.  

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