Hong Kong e-voucher scheme is a shot in the arm
- Billions of dollars are being handed out to boost consumption in a city hit hard by political turmoil and the Covid-19 pandemic, with the added benefit that Hong Kong can move towards being a cashless society
Shopping makes one happy, especially when someone else is footing the bill. After a prolonged period of doom and gloom fuelled by the Covid-19 pandemic and the political turmoil of 2019, Hongkongers have been given much-needed retail therapy – a HK$5,000 (US$643) government consumption voucher.
Notwithstanding some initial hiccups at the launch of the scheme this month, the HK$36 billion giveaway has got off to a good start.
The online glitches with Tap & Go, one of the four e-payment tools for the scheme, has raised questions over preparedness. Some users said they were unable to get the money via the platform when the first HK$2,000 instalment was released on August 1.
Separately, a Sha Tin pharmacy reportedly levied a 2 per cent charge for payment via Octopus card, a move that is in breach of the rules governing the city’s most used e-wallet. The complaints received by the Hong Kong Monetary Authority and the Consumer Council over the past few days show there is still much work to be done.
Arguably, a HK$5,000 handout in phases may not mean much. But it could be timely for many families who are struggling to make ends meet.