[bisq-network/growth] New payment method: Hong Kong Faster Payment System (FPS) (#251)

[raymondclowe]

### Why

Very popular in Hong Kong.  Fast, safe, supported by all banks as well as various other non-bank payment systems.

All P2P I've done in the last year, as well as every purchase from vendors for things like phones and harddisks, has been paid using this.

The other party only has to give one of their FPS ID (a digit string), email address or phone number and they can receive payment instantly with no fees.  Their partially obscured name is provided for confirmation, then full name of sender is shown on completion.


### Region

Hong Kong only

### Currencies

Hong Kong dollars

### Chargeback risk

I don't think it is possible.  Not confirmed.

### Size of user base

Everybody in HK can use it, can't tell how many actually do.


### Data requirements

FPS ID is the minimum


### Verification

The receiver will get a notification.  Typically this is all done with bank or ewallet apps on phone.  So you just get a notification immediately, sometimes an email as well.

Some banks have a web interface.

### Duration

Never had a transaction take longer than maybe 3 seconds.  Typically under one second.

### Fees

No fees

### Fraud risk

I dont know how this could be used for fraud.

### Payment amounts

No minimum.  Not sure official maxium, most banks have some sort of limit but I've seen HK$50K transactions commonly.

### Payment description

Yes

### Name

This is "Faster Payment System", always called "FPS".  It is *not* related to the UK system "FPS/Faster Payments" although the end user experience is similar.


### More information:

https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/financial-market-infrastructure/faster-payment-system-fps/



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