Customers buy goods from a shop with a sign that reads "We accept consumption vouchers" at a market in Tsuen Wan on April 4, 2022. (ANDY CHONG / CHINA DAILY)
HONG KONG – The Hong Kong Special Administrative Region government has selected two more payment platforms to assist in implementing the Consumption Voucher Scheme, Financial Secretary Paul Chan Mo-po said Sunday.
In a statement, Chan said PayMe from HSBC and BoC Pay were chosen to help disburse HK$5,000 ($637) electronic vouchers to city residents during the second phase of the CVS.
Financial Secretary Paul Chan Mo-po said PayMe from HSBC and BoC Pay were chosen to help disburse HK$5,000 electronic vouchers to city residents during the second phase of the Consumption Voucher Scheme
The government earlier tapped four Stored Value Facility operators — AlipayHK, Octopus, Tap & Go and WeChat Pay HK — to disburse HK$5,000 vouchers under Phase I of the CVS to about 6.3 million residents.
According to the statement, the government is discussing with the six operators the detailed arrangements – including system design, detailed procedures – and will announce the details of Phase II as soon as possible. It said the target is to start registration in the middle of this year.
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"With last year's experience, the disbursement of vouchers assisted by the four SVF operators in April under Phase I of the Scheme has been smoother,” Chan was quoted in the statement as saying.
“With the development of the market, the number of operators suitable for assisting in disbursement of vouchers has increased, thereby expanding the choice of SVFs, encouraging healthy competition, bringing more incentives to people and merchants, boosting consumer sentiment and further promoting the development of the electronic payment market,” he added.
Chan said the government took into consideration a basket of factors in choosing the operators, including their relevant experience, popularity of their SVF or e-wallet, their technical capacity, the preparation time required. He added that the Hong Kong Monetary Authority was also consulted.
"I have requested all the participating operators to provide assistance to those small business operators and sectors severely affected by the epidemic through rebates and promotional activities so as to benefit consumers and the relevant merchants. The operators will announce the details in due course," Chan said.
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