Four e-payment operators, covering up to 100,000 merchants, have been selected.
The SAR government has selected four stored value facility (SVF) operators, namely AlipayHK, Octopus, Tap & Go and WeChat Pay HK, for the implementation of the consumption voucher scheme.
The four SVFs have a network of 30,000-100,000 merchants in local retail, food and beverage and service industries.
“When identifying the SVF operators, the Government has taken into consideration a basket of factors, including the popularity, ease of use, and coverage of merchants of the SVFs, the operator's relevant experience and supporting facilities, the preparation time required,” Financial Secretary Paul Chan said in a statement, noting the Monetary Authority has also been consulted.
The government is now in talks with the operators to finalize the system design and procedure in availing the programme. Registration for e-vouchers is targeted to start this summer.
The operators have also agreed to waive relevant fees for the installation and usage of the payment devices by the local merchants and other administrative fees charge for payment processing “as far as practicable.”
Chan added SVF operators have agreed the additional income generated from the e-vouchers scheme will be returned to the merchants or the consumers.
The e-vouchers, worth $5,000, will be disbursed to eligible Hong Kong permanent residents and new arrival, aged 18 or above. This forms part of Finance Secretary Chan's budget statement last February.
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