Small change may be on the way out after the launch yesterday of a $200 stored-value smart card.
A microprocessor chip in the Prime Visa Cash card 'stores' the monetary value and deducts the purchase amount each time the card is used.
The Bank of China, Standard Chartered Bank and Visa International launched the card - the territory's first - pre-empting Hongkong Bank's Mondex smart card, to be introduced this year.
Retail Management Association Chairman Rodney Miles said: 'We welcome it for all retailers as long as there's no charge.' The card is on trial, with plans to develop it further from a 'reloadable' card to being combined with a credit card.
Outlets at which it can be used include Daimaru, Wing On, Mitsukoshi, Esso, Fairwood, Sha Tin New Town Plaza and Tower Records.
Analysts said the public may be wary of using plastic instead of hard cash for small transactions.
