Digital payments are becoming very popular in Hong Kong after the Covid 19 pandemic. Local customers commonly use payment options like WeChat Pay and Alipay to make purchases. The government is also supporting the growth of digital channels by providing incentives to potential customers. As part of that initiative, the government is hoping to provide monetary incentives to common customers to encourage spending. This spending will be mostly used through digital payment channels.
Exploring the Electronic Consumption Voucher Program
The electronic consumption vouchers are a part of a wider effort by the government to support struggling businesses and Hong Kong citizens.
According to declarations by Financial Secretary Paul Chan, the rollout is a part of the $64 billion anti-pandemic funds to counteract the impacts of the pandemic. A $20 billion fund has been directed towards struggling businesses and Hong Kong residents. The government plans to introduce $10,000 vouchers in two installments to enhance spending by citizens. The efforts are expected to improve the region’s consumer finances and economic activity.
Role of Digital Partners in the Rollout
The introduced program is expected to be distributed through leading digital companies in the country. According to Hong Kong officials, WeChat Pay Hong Kong, Alipay HK, Octopus, and Tap & Go will be used as the primary payment dispensation forms in the country. The primary distributors are WeChat Pay and Alipay HK because of their dominant position in the local market. These digital programs are expected to go directly towards consumers in two installments.
Benefits of Using Alipay HK to Redeem Vouchers
Alipay HK is considered to be a local leader in payment handling. With a network of over 100,000 retailers in Hong Kong, the payment service is accepted at most retail outlets in the country. The network includes supermarkets, convenience stores, chain stores, and restaurants. The Alipay network also includes over 1000 restaurants that are part of the OpenRice network. Here are some other benefits of using Alipay HK to redeem the voucher：
Alipay HK is considered to be the most popular form of payment in the country. Service providers and product sellers widely accept the payment service. The company’s service area includes coverage for well-known online retailers and local tour planners. This easy acceptance makes Alipay HK the ideal retailer to redeem vouchers and spend on common requirements. Some popular online merchants that accept Alipay include Dyson, Zstore, Sephora, HKTV Mall, and J Select. This widespread acceptance means that users can easily redeem their vouchers and spend them on their required products and services.
Smart Consumption and Rewards
Alipay rewards users in Hong Kong by providing reward sweeps and stamp rewards for spending and usage. Every month, users can unlock certain rewards for daily consumption and purchases. The company uses coupons and other tools to facilitate savings and allow users to benefit from smart purchasing. Customers can regularly achieve these awards by monitoring their spending. The company also introduces credit card combined activities to promote digital payment options.
Using Consumption Vouchers with Alipay
Alipay makes it very simple for consumers to pay with Alipay HK. Customers can easily log into the application and check payment records.
Here are the steps to use the Alipay application:
- Enter the coupon section from the application.
- Enter the coupon code.
- Spend on the required products and services.
Learn more >>> How does QR Code Payment in Alipay work?
Using WeChat Pay HK As Payment Option
WeChat pay is another popular payment option with a wide network of over 1 million merchants. The company’s network includes online and offline companies. The company’s payment system is designed to offer discounts to users when they make purchases. Customers can choose to redeem their vouchers against their desired payment services. The WeChat network includes shopping malls, cosmetics, convenience stores, electrical stores, and other digital retailers. This gives customers the freedom to spend on their favorite outlets.
Here are the options to use the WeChat Pay application.
- Choose the Payment code entry method to enter the payment code.
- Scan the merchant’s QR code to make payment within the application.
- Using the application to make the payment.
Transforming Digital Payments in Hong Kong With Oceanpayment
The Covid 19 pandemic is still continuing to impact the economic infrastructure in Hong Kong. The government’s consumption voucher scheme is expected to positively impact the growth of digital payment. It is expected that consumers will use a majority of the vouchers in digital payments. Oceanpayment is the ideal partner to help companies benefit from digital payment solutions and services. As an official payment service provider with certifications from Alipay and WeChat, Oceanpayment is the right partner to offer digital payments and solutions in Hong Kong. The company has years of experience as a leading payments provider in the region. Explore the Oceanpayment ecosystem to learn more about the services offered by Oceanpayment.