Octopus once gave Hong Kong a step ahead in the field of electronic payments.
However, in recent years, electronic consumption in the Mainland has been booming, and travel basically does not use cash. In contrast, electronic consumption in Hong Kong is found to have stagnated. Although there are many electronic payment platforms, the government's achievements in promoting the popularization of electronic payments in the past few years are hard to say success.
Many merchants have failed to install payment tools due to installation fees and handling fees, making them unavailable to the public.
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Perhaps for the public, the popularity of mobile payment is indeed getting higher and higher, but the merchants covered are very limited. Many merchants have not installed payment tools due to installation fees and handling fees, making it impossible for the public to use it.
Therefore, the government this year distributed electronic consumer vouchers to the public and selected four electronic payment platforms to receive them. In fact, this will be an incentive for more merchants to install electronic payment tools.
The public will obtain the first phase of consumer vouchers on August 1, which is expected to arouse an upsurge in electronic payment shopping.
However, does this mean that electronic payments will become the norm in Hong Kong?
For more detailed analysis, please read the 275th issue (July 26, 2021) "Hong Kong 01" e-weekly report "
Electronic consumer coupons lead Hong Kong into a cashless society?
".
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