ICBC (Asia) Rolls Out Brand New Electronic Payment Product "Fast Payment Service" With Special Privileges For Customers Through FPS Introduced By HKMA

Free of Charge and Provides Special Privileges

HONG KONG, Oct. 2, 2018 /PRNewswire/ -- Industrial and Commercial Bank of China (Asia) Limited ("ICBC (Asia)" or the "Bank") launches a brand new electronic payment product "Fast Payment Service" with special privileges for customers through FPS introduced by Hong Kong Monetary Authority. From September 30 2018 onwards, customers make local payment transfer via "Fast Payment Service", will have a chance to receive up to HK$70 cash reward and enter into a lucky draw to win an iPhone XS Max or an iPad.

Statistics show that many local customers still prefer cheques for payments, which involve subsantial human resources and not environmentally friendly. FPS is an upgrade system of Electronic Clearing (ECG) from HKMA to offer customers an efficient, convenient, secure and eco-friendly option for local payment transfer. Through the Bank's "Fast Payment Service", customers can enjoy free of charge, seamless and instant fund transfers by Internet Banking or Mobile Banking anytime.

Starting from 17 September 2018, customer can register ICBC (Asia) as the default receiving account via the Bank's Internet Banking or Mobile Banking; from 30 September 2018 onwards, customer can make real-time payment transfer via the Bank's "Fast Payment Service".

Favorable Features:

Launch Date: 30 September 2018
Applicable Currency: HKD, CNY

• Easy: It is easy to link up bank account with mobile phone number or email address through Internet Banking and Mobile Banking which enables fund transfer without account number.
• Convenient: Customers can make payment anywhere in 24 hours a day, 7 days a week and receive the money in 15 seconds the soonest.
• Economical: It's free of charge!
• Environmental Friendly: FPS helps reduce the usage of physical application forms and cheques to create a clean and green environment.

Special Privileges:

Customers will have a chance to receive up to HK$70 cash reward and enter into a lucky draw to win an iPhone XS Max or an iPad by setting ICBC (Asia)'s account as the FPS default receiving account and completing the designated fund transfers as follows:

Promotion Period: From 30 September to 30 Novermber

• Reward 1: First 5,000 customers who have set ICBC (Asia)'s account as their FPS default receiving account and susseccefully receive a payment via FPS can receive HK$ 50 cash reward.
• Reward 2: First 5,000 customers who have susseccefully made a payment via FPS can receive HK$ 20 cash reward
• Reward 3: Customers can obtain one lucky draw chance by either setting ICBC (Asia)'s account as the default receiving account, making a payment, or receiving a payment. Each customer can have 10 lucky draw opportunities in maximum. Lucky draw prizes are iPhone XS Max 512GB (3 in total) and iPad Wi-Fi 128 GB (5 in total).

Industrial and Commercial Bank of China (Asia) Limited

Industrial and Commercial Bank of China (Asia) Limited ("ICBC (Asia)") is a licensed bank incorporated in Hong Kong. It is the flagship of overseas banking business of Industrial and Commercial Bank of China Limited ("ICBC") -- currently the largest commercial bank in China. It has 57 retail outlets (including 29 "Elite Club" Wealth Management Centres) in Hong Kong. It is engaged in commercial banking, investment banking and other financial services, including those of securities, insurance and funds, with a focus on commercial and retail banking as well as global market business. As at 30 June 2018, the total assets of ICBC (Asia) amounted to HK$975.2billion. Chinese Mercantile Bank and ICBC Asset Management (Global) Company Limited, two wholly-owned subsidiaries of ICBC (Asia), specialize in Renminbi services in mainland China and ICBC's global asset management business respectively.