Hong Kong selects payment platforms to help disburse consumption vouchers

HONG KONG, April 11 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government has selected several payment platforms including AlipayHK and Octopus to help disburse consumption vouchers to residents under a pro-consumption scheme.

The government announced on Sunday a number of stored value facility (SVF) operators to assist in implementing the scheme in a statement, with Tap & Go and WeChat Pay HK also on the list.

According to the 2021-22 Budget published earlier this year, every permanent resident and new arrival aged 18 or above will receive electronic consumption vouchers worth 5,000 Hong Kong dollars (643 U.S. dollars) to stimulate people's consumption sentiment and boost local consumption.

The government is discussing with the operators on the detailed arrangements and the target is to start registration this summer vacation.

The selected payment platforms currently cover a network of some 30,000 to 100,000 merchants, respectively, in the local retail, food and beverage, and service industries.

The government encouraged more local merchants to participate in the scheme and said those SVF operators have agreed to waive relevant fees for the installation and usage of payment devices by local merchants.