[extra cash online]Financial secretary: Voucher schemes pave the way for wider use of e-wallets in HK

  Hong Kong’s upcoming e-voucher scheme will allow citizens to apply soon, and the city’s financial secretary Paul Chan Mau-po said that it will boost Hong Kong’s economy thanks to the multiplier effect. The scheme is also said to pave the way for embracing e-wallets in the future. Chan said on its weekly blog on Sunday that although electronic payment was not very prevalent in Hong Kong, this method, coupled with online shopping, are two main trends of the retail market in the future, offering more personalised products and services for citizens in the future and creating more opportunities to develop business for merchants and businesses.

  ”The scheme offers a bigger incentive for everyone to embrace electronic payment. Via the scheme, every citizen in Hong Kong will join the development and construction of Hong Kong’s electronic payment platform,” Chan said. He further elaborated that the use of electronic payment is not that distant, even at wet markets in some old communities, as many stalls have installed electronic payment devices. Customers can use their mobile wallet to buy commodities, fresh food, vegetables, fruits and snacks, avoiding receiving a lot of small change.

  The commencement of the scheme, along with the promotions offered by stored value facility operators, allow customers to take a step forward to use more mobile wallets and lower the service fees paid by customers can merchants. With more customers and merchants using electronic payment and online sales, cross-industry collaborations and information sharing can be achieved as well.

  Meanwhile, Chan also said on his blog that there has been much chatter about the registration process of the e-voucher scheme, promotions or discounts offered by the scheme’s operators, or individual spending plans. “They sounded happy when talking about these (topics related to the scheme). It’s expected that this position atmosphere can drive citizens to spend, enabling the scheme to create a ‘multiplier effect’ to boost Hong Kong’s economy more broadly,” he said.

  Before the registration begins, brands, stored value facility operators and financial institutions have been rolling out promotions to attract customers. Octopus Cards has recently announced a collaboration with ZA Bank to allow citizens to win an extra cash reward of up to HK$5,018 upon choosing Octopus Card to collect the government’s vouchers. To be eligible, customers need to become a new ZA Bank user without holding any products or services with the bank before the promotion period, opens an account with a dedicated code, and make a transaction with its ZA Card at any merchant within 30 days after opening the account.

  ”We are excited about this partnership with Octopus Card to jointly support the scheme, enabling residents who use Octopus Card to collect their consumption vouchers to take spending experience to the next level while enjoying more rewards. At the same time, we hope to further integrate virtual banking into people’s daily lives through this initiative, thereby contributing to promoting electronic payments,” said Rockson Hsu, CEO of ZA Bank.

  Related articles

  HK retail malls run promos to ensure brand recall before e-voucher scheme kicks in

  AlipayHK joins HKTVmall prior to e-voucher scheme

  HK$5,000 voucher scheme will open for registration in July