Configuring Hong Kong Faster Payments System (HK FPS)

The following modules are configured to process HK FPS payments:

Module	Description
PAYMENT.ORDER (PO) application	Helps manual capture of HK FPS payments
Temenos Payment Hub (TPH)	Helps processing of HK FPS payments

PO Application for Payment Capture

The user can configure PAYMENT.ORDER product. To perform this, do the following:

1. Go to Admin Menu>Payments Hub>Payment Order Admin Menu>Payment Order Product Setup.
2. Select the Product Name as HKFPSINST in the PO application.



3. Enter the required details in the following fields:

Field	Description
Reachability Check	To enable the validation of reachability of beneficiary bank through HK FPS against HK FPS clearing directory, set as BIC.
Pay Through Beneficiary	To indicate that beneficiary is an external bank, set to Yes.
Reserve Funds	To indicate that the funds reservation happens in PO application, set as Yes.
Check Transparency	To indicate that simulation is done in payment system (TPH), set as Yes.

HK FPS Clearing in TPH

The user can configure HK FPS (an instant clearing system) in TPH. To perform this, do the following:

1. Go to Admin Menu>Payments Hub>Local Clearing>Clearing.
2. Select the Record ID as HKFPSINST.

3. Enter the required details in the following field:

Field	Description
Outgoing Message Type	Define the FPS message types as required (in ISO20022 format)
RTGS System	Set as I (as this is an instant clearing)
Availability	Set as 24By7

4. To define further characteristics of the payment based on message type and direction, go to Admin Menu>Payments Hub>Local Clearing>Clearing Setting.

NOTE: The user can configure the HK FPS Clearing Account Number and Suspense Account Number.

TPH Product Setup	Light Weight	To configure the HK FPS incoming payments from clearing, go to Admin Menu>Payments Hub>Product Determination>Product Condition – Light.
	Medium Weight	To configure a product for outgoing HK FPS payments originating from PO application, go to Admin Menu>Payments Hub>Product Determination>Product Condition – Medium.

Reachability in HKFPSINST

The user can configure a record for the bank to be reachable through HKFPSINST. To perform this, do the following:

1. Go to Admin Menu>Framework Parameter>Clearing Directory.



2. Select the required details in the following fields: Payment Channel, NCC, Scheme, and Currency.
NOTE: To know more, refer to Clearing Directory.