Hong Kong FPS Users Explained Simply | Generated by AI
Great observation! The discrepancy arises because the 17 million FPS users in Hong Kong include both individuals and businesses, and many people have multiple FPS-linked accounts (such as personal accounts, joint accounts, or accounts with different banks or e-wallets).
Here’s why the number is so high:
- Multiple Accounts: A single person can register multiple FPS IDs (e.g., using different mobile numbers, emails, or HKID numbers) across various banks or e-wallets.
- Business Accounts: Companies and merchants also register for FPS to receive payments, adding to the total count.
- E-wallets: Many users link their FPS IDs to digital wallets (like PayMe, AlipayHK, WeChat Pay HK), which are counted separately from traditional bank accounts.
So, while Hong Kong’s population is about 7.5 million, the number of FPS registrations is much higher due to these factors. This is similar to how the number of mobile phone subscriptions often exceeds the population in many countries.