China CITIC Bank to launch Payment Connect services

First 1,000 customers to complete transactions worth HK$1,000 can get a rebate.

China CITIC Bank International Limited (CNCBI) is set to launch services related to Payment Connect.

Launched by the central banks of Hong Kong and mainland China, Payment Connect links together China’s Internet Banking Payment system (IBPS) and Hong Kong’s Faster Payment System (FPS) to support real-time cross-border payment services for residents in both markets.

It allows real-time, small-value, cross-boundary remittances for residents on both sides of the border.  

In tandem with the launch, from now until 30 September 2025, CNCBI said that the first 1,000 eligible customers who completed at least five inward or outward Payment Connect transactions to a total amount of or above HK$1,000 or RMB1,000 each on inMotion may enjoy a cash rebate of HK$50.