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Hongkongers, mainland residents embrace Payment Connect service on first day

Hongkongers and mainland residents jumped at the chance to send money across the border via a new electronic payment service on its first day of operation on Sunday. The so-called Payment Connect was operating smoothly, with 2,000 Northbound and 7,400 Southbound transactions just after noon, according to a spokesperson for the Hong Kong Monetary Authority (HKMA). The People’s Bank of China and the HKMA announced the linkage on Friday. Connecting Hong Kong’s Faster Payment System (FPS) to the...


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