Hong Kong introduces joint one-stop cross border e-billing presentment and payment platform

Hong Kong introduces joint one-stop cross border e-billing presentment and payment platform

January 8, 2014  |  Asia, Electronic Invoicing, Payment

Electronic Bill Presentment and Payment platform Hong Kong 150x150 Hong Kong introduces joint one stop cross border e billing presentment and payment platformThe Hong Kong Monetary Authority (HKMA) has worked closely with 23 banks to develop the first ever one-stop electronic bill presentment and payment platform that allows citizens from Hong Kong to receive, pay and schedule bill payments online.

Hong Kong government departments such as the Water Supplies Department and Rating and Valuation Department revealed plans to adopt the EBPP services by end of 2014 to better meet the needs of their customers.

Some features of the Electronic Bill Presentment and Payment (Download the brochure) platform are:

  1. A consolidated platform for the straight-through processing of electronic bill presentments and payments.
  2. Users only need to log onto their internet banking account – to receive, view, manage and schedule payments for various e-bills issued by merchants.
  3. As it is a multi-currency platform, e-payments can be made in Hong Kong dollar, renminbi and US dollar.
  4. By connecting users to billing merchants in Mainland China and overseas countries, the service offers cross-border e-billing and e-payment services.
  5. Users who use the platform to make online donations to charities can also collect electronic receipts.

Peter Pang, Deputy Chief Executive of the HKMA:

  • “For anyone looking to integrate bill presentment and management capabilities into the existing online banking service, the EBPP platform will fit the bill nicely – it marks a new era of multi-functional and paperless billing processing.”
  • “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 HKMA will continue to co-operate with the banking sector in the development of retail payment infrastructure and enhancing its efficiency.”

 


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