Payouts via FPS offer a fast and cost-effective way to disburse funds in Hong Kong using the Faster Payment System (FPS). FPS lets you send money to a beneficiary using the proxy identifier they registered with FPS: a mobile number, an email address or an FPS ID. You don’t need to collect the beneficiary’s bank account details. This documentation will guide you through the technical and operational steps required to manage payouts via FPS in Hong Kong.

Key Features

Payouts are delivered in near real-time
No cut-off times
Supported currencies - HKD, CNY
Minimum limit - 1 HKD / 1 CNY
Maximum limit - 1,000,000 HKD / 1,000,000 CNY

Building an integration

Step 1: Initiate a payout request

Tazapay uses a payout object to represent your intent to initiate a payout. The payout object tracks state changes from when the payout is initiated to when the beneficiary receives the funds. Create a payout on your server using Tazapay’s payout API with the following information:

Payout Amount - The amount in HKD or CNY you want to transfer to the beneficiary
Type of Payout - local_payment_network
Beneficiary Details
- Name - The beneficiary’s name
- Type - business or individual
- Destination Details
  - Local payment network type - fps_hkd for HKD, fps_cny for CNY
  - Currency - HKD for fps_hkd, CNY for fps_cny
  - Proxy type (deposit_key_type)
  - Proxy value (deposit_key)
Reason for Payout
Transaction Description - Additional Description for a payout

Possible values for `deposit_key_type`

Proxy type	`deposit_key_type`
Mobile number	`phone`
Email address	`email`
FPS ID	`fps_id`

To pay a Hong Kong bank account over FPS instead of a proxy, create a local bank payout with local.fund_transfer_network set to fps. See Create Payout.

Validations for proxy value

Ensure the following validations on your application for customer input for the proxy value. Proper error handling should be implemented for cases where validations fail.

Proxy type	Description	Validation	Example	Rejected examples
Mobile number	The Hong Kong mobile number registered with FPS	8 digits, optionally preceded by the country code `852` or `+852`. Spaces, dashes and parentheses are allowed, so `6123 4567` and `+852 61234567` are both accepted. Non-Hong Kong numbers are rejected	+852-61234567	`+86 13812345678` (not a Hong Kong number) `6123456` (7 digits)
Email address	The email address registered with FPS	Must be a valid email format: a name, an `@` symbol and a domain (e.g., example.com), with no spaces	john.doe@example.com	`john.doe@example` (no domain extension) `john doe@example.com` (contains a space)
FPS ID	The FPS ID assigned to the beneficiary	1–50 characters: letters, digits, `.`, `_` and `-`	1234567	`FPS 1234` (contains a space) An ID longer than 50 characters

A payout or beneficiary with an invalid proxy value, or with a deposit_key_type other than phone, email or fps_id, is rejected with error code 20301 (Field is required and must be a valid deposit key).

Sample Request cURL

curl --request POST \
  --url https://service.tazapay.com/v3/payout \
  --header 'Idempotency-Key: ref_78211' \
  --header 'accept: application/json' \
  --header 'content-type: application/json' \
  --data '{
  "beneficiary_details": {
    "type": "individual",
    "name": "Chan Tai Man",
    "destination_details": {
      "type": "local_payment_network",
      "local_payment_network": {
        "type": "fps_hkd",
        "currency": "HKD",
        "deposit_key_type": "phone",
        "deposit_key": "+852-61234567"
      }
    }
  },
  "amount": 100000,
  "currency": "HKD",
  "holding_currency": "USD",
  "purpose": "PYR005",
  "transaction_description": "Invoice INV-1001",
  "type": "local_payment_network",
  "reference_id": "ref_78211"
}'

Response

{
    "status": "success",
    "message": "",
    "data": {
        "amount": 100000,
        "balance_transaction": "btr_d4hk2v0ufu1c73b5fps0",
        "beneficiary": "bnf_d4hk2upufu1c73b5fpr0",
        "beneficiary_details": {
            "address": null,
            "destination": "lpn_d4hk2upufu1c73b5fprg",
            "destination_details": {
                "local_payment_network": {
                    "type": "fps_hkd",
                    "currency": "HKD",
                    "deposit_key_type": "phone",
                    "deposit_key": "+852-61234567"
                },
                "type": "local_payment_network"
            },
            "documents": [],
            "email": "",
            "name": "Chan Tai Man",
            "national_identification_number": "",
            "phone": null,
            "tax_id": "",
            "type": "individual"
        },
        "charge_type": "",
        "created_at": "2026-11-04T08:15:40.716489Z",
        "currency": "HKD",
        "documents": [],
        "holding_currency": "USD",
        "id": "pot_d4hk2v0ufu1c73b5fpsg",
        "logistics_tracking_details": [],
        "metadata": null,
        "mt103": "",
        "object": "payout",
        "payout_fx_transaction": {
            "exchange_rate": 7.78,
            "final": {
                "amount": 100000,
                "currency": "HKD"
            },
            "id": "fx_d4hk2v0ufu1c73b5fpt0",
            "initial": {
                "amount": 12854,
                "currency": "USD"
            },
            "object": "fx_transaction"
        },
        "purpose": "PYR005",
        "reference_id": "ref_78211",
        "statement_descriptor": "",
        "status": "processing",
        "status_description": "",
        "tracking_details": null,
        "transaction_description": "Invoice INV-1001",
        "type": "local_payment_network"
    }
}

id is the unique identifier you can use to track the payout.

Alternatively, Creating a beneficiary and then initiating a payout

To align with your workflow, you can also choose to split Step 1 into two steps

Step 1A: Creating a beneficiary using the Create Beneficiary endpoint
Step 1B: Initiating a payout using the Create Payout endpoint

Step 1A: Creating a beneficiary

Tazapay uses a beneficiary object to represent the receiver of funds of a payout. Pass the beneficiary name, type, the local payment network type and currency, the proxy type and the proxy value to the /v3/beneficiary endpoint. The proxy value is validated when the beneficiary is created. The possible values for deposit_key_type and the validations for the proxy value are the same as in Step 1.

Sample Request cURL

curl --request POST \
  --url https://service.tazapay.com/v3/beneficiary \
  --header 'accept: application/json' \
  --header 'authorization: Basic <base64 of api_key:api_secret>' \
  --header 'content-type: application/json' \
  --data '{
  "type": "individual",
  "name": "Chan Tai Man",
  "destination_details": {
    "type": "local_payment_network",
    "local_payment_network": {
      "type": "fps_hkd",
      "currency": "HKD",
      "deposit_key_type": "phone",
      "deposit_key": "+852-61234567"
    }
  }
}'

Response

{
    "status": "success",
    "message": "",
    "data": {
        "address": null,
        "created_at": "2026-11-04T08:10:02.698196Z",
        "destination": "lpn_d4hk2upufu1c73b5fprg",
        "destination_details": {
            "local_payment_network": {
                "type": "fps_hkd",
                "currency": "HKD",
                "deposit_key_type": "phone",
                "deposit_key": "+852-61234567"
            },
            "type": "local_payment_network"
        },
        "documents": [],
        "email": "",
        "id": "bnf_d4hk2upufu1c73b5fpr0",
        "metadata": null,
        "name": "Chan Tai Man",
        "national_identification_number": "",
        "object": "beneficiary",
        "phone": null,
        "tax_id": "",
        "type": "individual"
    }
}

id is the unique identifier for a beneficiary. Pass this in the Create Payout API to initiate a payout.

Step 1B: Initiating a payout to the existing beneficiary

Create a payout on your server using Tazapay’s payout API with the following information:

Payout Amount and Currency - The amount you want to transfer to the beneficiary
Beneficiary ID
Type of Payout - local_payment_network
Reason for Payout
Transaction Description - Additional Description for a payout

Sample cURL

curl --request POST \
  --url https://service.tazapay.com/v3/payout \
  --header 'accept: application/json' \
  --header 'authorization: Basic <base64 of api_key:api_secret>' \
  --header 'content-type: application/json' \
  --data '{
  "beneficiary": "bnf_d4hk2upufu1c73b5fpr0",
  "amount": 100000,
  "currency": "HKD",
  "holding_currency": "USD",
  "purpose": "PYR005",
  "type": "local_payment_network",
  "reference_id": "ref_78211",
  "transaction_description": "Invoice INV-1001"
}'

Response

The response is the same payout object as in Step 1.

id is the unique identifier for a payout. You can use this to track the payout.

Handle Payout Events

A payout is in the processing state after it is successfully initiated. The payout can move to one of the following three states from the processing state:

requires_action - This is when the payout requires additional information. These additional information are typically required for reasons of regulatory compliance. Tazapay will reach out to your registered email address specifying the exact requirements and the next steps. After you have provided the necessary information, Tazapay will review and the payout can subsequently move to either succeeded or failed.
succeeded - The beneficiary has successfully received the funds. For a successful FPS payout, tracking_details carries the payment’s UTR.
failed - This is the state when the payout fails. Any funds deducted for the payout will be credited back to your account. Tazapay specifies the reason for the failure in the field status_description

Tazapay delivers webhooks to your registered endpoint notifying you of any event of interest for the payout.

Overview

Coverage

Payout Network

Creating a Payout

Local Guides

Cross-border USD Wire (via Fedwire/SWIFT)

Managing FX

Capabilities

Reversals

Recall & Amendment Guide

Hong Kong FPS

Key Features

Building an integration

Step 1: Initiate a payout request

Possible values for `deposit_key_type`

Validations for proxy value

Sample Request cURL

Response

Alternatively, Creating a beneficiary and then initiating a payout

Step 1A: Creating a beneficiary

Sample Request cURL

Response

Step 1B: Initiating a payout to the existing beneficiary

Sample cURL

Response

Handle Payout Events

​Key Features

​Building an integration

​Step 1: Initiate a payout request

​Possible values for deposit_key_type

​Validations for proxy value

​Sample Request cURL

​Response

​Alternatively, Creating a beneficiary and then initiating a payout

​Step 1A: Creating a beneficiary

​Sample Request cURL

​Response

​Step 1B: Initiating a payout to the existing beneficiary

​Sample cURL

​Response

​Handle Payout Events

Key Features

Building an integration

Step 1: Initiate a payout request

Possible values for `deposit_key_type`

Validations for proxy value

Sample Request cURL

Response

Alternatively, Creating a beneficiary and then initiating a payout

Step 1A: Creating a beneficiary

Sample Request cURL

Response

Step 1B: Initiating a payout to the existing beneficiary

Sample cURL

Response

Handle Payout Events