Hong Kong’s use of digital payment systems soars under e-voucher scheme, with 2.2 million new accounts created: finance chief
- Paul Chan touts success of consumption voucher programme in stimulating economy, moving city towards digital transformation
- The number of merchants accepting digital payments has jumped by 48,000, he says in weekly blog
Hong Kong’s consumption voucher programme has sparked a major leap in the local use of electronic payment systems, the city’s finance chief has said, pointing to the creation of more than 2.2 million new accounts in the past few months.
A week after the roll-out of the first HK$2,000 (US$257) instalment of the HK$5,000 e-vouchers, Paul Chan Mo-po said the scheme was achieving its goal of stimulating the economy and supporting employment, noting the “festive atmosphere” in society.
“Many shopkeepers have said the visitor flow has apparently increased recently, with some consumers being more generous in their spending,” Chan wrote on his official blog on Sunday.
He also said the vouchers had laid the groundwork for Hong Kong’s transformation to a digital economy. The city has long lagged behind mainland China in its adoption of electronic payment systems.
As of last month, the total number of WeChat Pay HK, AlipayHK, Tap & Go and Octopus accounts – the four systems designated for use with the programme – had grown by more than 2.2 million users, Chan said.
The number of merchants accepting those payments, meanwhile, had increased by more than 48,000.