Coupons│Octopus, Alipay Hong Kong, Tap & Go and WeChat are selected for summer vacation registration

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Author: Du Jiexin

2021-04-11 09:15

Last update date: 2021-04-11 15:05

The Financial Secretary announced in the 2021-22 Budget that each eligible Hong Kong permanent resident and new arrivals aged 18 or above will issue a total of $5,000 in electronic consumer vouchers in installments; the government today (11 Japan) announced that it has selected several stored-value payment tool operators to assist in the implementation of the plan. They are Alipay Hong Kong (AlipayHK), Octopus, Tap & Go and WeChat Pay HK, and are now discussing various detailed arrangements with the operators and goals It is during the summer vacation to start accepting registration.

Financial Secretary Chen Maobo said that when the government is looking for stored-value payment tool operators, it considers a basket of factors, including the popularity of stored-value payment tools, the ease of use, the coverage of merchants, and the operators’ relevant experience and supporting facilities. For the preparation time, etc., the Hong Kong Monetary Authority has also been consulted. It is believed that the public can choose from the above list the stored-value payment tools that suit their needs to receive and use consumer coupons.

Alipay Hong Kong and Octopus were both selected as operators to assist in the implementation of electronic consumer coupons; the rest also include Tap & Go rewards and WeChat Pay HK.

(Information Picture/Photographed by Li Zetong)

The selected stored-value payment tools include Alipay Hong Kong (AlipayHK), Octopus, Tap & Go and WeChat Pay HK. The government is discussing various detailed arrangements with relevant operators, including system design, detailed procedures, etc., and will The plan details will be announced as soon as possible, and the goal is to start accepting registration during the summer vacation.

▼How to use the coupon?

Click the picture to see the $5000 electronic coupon lazy bag▼

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The selected payment tool covers 30,000 to 100,000 local retail, catering and service merchants

Chen Maobo pointed out that these stored-value payment instruments currently cover approximately 30,000 to 100,000 local retail, catering and service merchants.

In order to encourage more local merchants to participate in the project, the government has discussed arrangements with various stored-value payment tool operators to facilitate and support the use of electronic payment systems by local merchants.

The operator agrees to waive the installation and usage fees of local merchants

The operators have agreed to reduce as much as possible the cost of installing and using related payment tools by local merchants (especially small and medium-sized enterprises), as well as the handling fees for processing payments with consumer vouchers.

Merchants who are interested in installing relevant payment tools can pay attention to the announcements of the respective operators and inquire directly with them.

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Chen Maobo also pointed out that, in accordance with their operating models and business arrangements, the operators will give back to the merchants or consumers the additional revenue derived from the coupons in different ways, and will organize various promotional activities to encourage consumption.

AlipayHK, Octopus, Tap & Go, WeChat Pay HK will return additional revenue to merchants or users

AlipayHK, Octopus, Hong Kong Telecom's Tap & Go "Tap & Stay Reward" and WeChat Pay HK all stated that they would use different ways to give back to merchants or users the extra revenue derived from coupons.

Among them, Octopus stated that it will reduce or exempt local small and medium-sized enterprises and merchants for installation of related devices. Eligible new merchants can directly apply to Octopus to install the Octopus payment collection device without paying any installation or rental fees; apply to use the commercial version of the Octopus App to receive payment Merchants can get a free Octopus mobile cash register and waive bank account fund transfer fees until the end of the voucher program.

New merchants can also apply for the installation of Octopus collection devices through third-party suppliers according to their needs.

The Tap & Go "Tap & Go Reward" also stated that it will waive the Tap & Go QR code transaction and installation fees, reduce the merchant Mastercard and UnionPay transaction fees for the first application, and will also waive the "Smart POS" monthly rental fee.

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