Hong Kong consumers spoiled for choice as payment platforms offer sweeteners to win users ahead of consumption voucher release
- Octopus Cards and WeChat Pay HK will offer e-vouchers among other treats to attract new and returning users
- Consumers previously used vouchers on high-value goods but now they are buying everyday items, says Tencent vice-president
Competition for shoppers has intensified days after the government announced the distribution date of the remaining consumption vouchers, with two of Hong Kong’s major payment platforms racing to offer perks and discounts.
Octopus Cards and tech giant Tencent’s WeChat Pay HK said separately on Wednesday they would offer e-vouchers to new users or those who chose to switch payment platforms.
Octopus will reward new users or those switching to the platform with HK$50 (US$6) in top-up value, and if they register with its mobile app, the amount will go up to HK$100. In addition, the company offered as much as HK$100 million in sweeteners for spenders.
Octopus will distribute 1 million cash coupons for participating merchants which include fast food chain McDonald’s, convenience chain Circle-K and home goods store JHC. The coupons will be given out on a first-come, first-served basis over four weeks.
WeChat Pay HK will offer a HK$50 electronic voucher to new users or those who switch payment platforms.
“This includes returning users as well,” said Daniel Hong, vice-president of Tencent financial technology, referring to those who had used WeChat Pay to claim earlier rounds of consumption vouchers, switched to another platform, and decided to revert this time.
All shoppers who use WeChat Pay HK to claim the latest consumption vouchers will also get five lucky draw chances to win up to HK$98 in electronic cash or HK$10 coupons for select merchants, including health and beauty retailers Mannings and Watsons, food delivery platform Foodpanda or convenience store chain 7-Eleven or HK$5 for restaurant chain Cafe de Coral.