Covid-19 Accelerating the Shift to Hygienic Payment

The outbreak of COVID-19 is challenging our reach for cash. The pandemic makes hygiene the number one concern on every person’s mind. Consumers have become more conscious of personal and public hygiene and social distancing than ever. The perception that cash is possibly a vehicle for coronavirus has changed consumers’ attitude towards payment methods drastically. As a result, it is understandable that payment by cash has become less preferred nowadays for the sake of hygiene. In search of new safety measures to prevent the fatal virus from spreading, as an alternative, cashless payment methods have become more and more prominent in recent times all over the world.

The Safest and Most Hygienic Way to Pay

Coins and banknotes are coming under scrutiny as a major risk. It is undeniable that most people avoid touching or keeping coins, banknotes or anything that may transmit viruses. Due to the outbreak of the coronavirus, cashless payment is on the rise as it is regarded as the purest and safest form of virus-free payment method. To reduce the chances of being infected or spreading COVID-19, consumers are utilizing digital technologies to learn, work and shop from home. Since electronic payment can reduce our chances of exposure to the germs, it is considered as the cleanest and the most hygienic payment method. COVID-19 has accelerated the evolution of payment methods, that contactless payment is gradually replacing traditional coins and banknotes. In fact, the adoption of cashless payment has become a spontaneous preventive measure against infectious diseases in our community. On top of that, with mobile and digital encryption technology, contactless payments are secured electronically and physically.

Ease and Convenience

Efficiency is a consideration for everyone living in this metropolitan city. The convenience and portability of conducting business transactions with contactless payment are certainly the major reasons for people to go digital. The rise of e-commerce, flexibility of e-banking and the growing number of “only mobile payment accepted” signs in physical shops and smart vending machines have left people’s purses empty. With cashless payment, people no longer have to carry cash or plastic cards. People can enjoy the freedom to transact whenever they want, regardless of geographical barriers. They need not to be physically present to conduct a business transaction during office hours.

Go Digital, Get Discounts

Moreover, cashback offers are made possible with cashless payment methods. Shops can provide reward points and loyalty benefits to customers on their purchase of goods and services. These will be followed by various discounts and offers on digital transactions. Indeed, it offers opportunities for people to increase their savings if they are able to take advantage of these. Meanwhile, with the assistance of contactless payment methods, people may keep track of the spending efficiently. It can give a positive impact on budget discipline and people’s savings plans. Ultimately, it can improve consumers’ cash flow and capability in saving money, and raise business owners’ profitability and business growth rates.

Electronic Lucky Money, an innovative way to celebrate Chinese New Year

During Chinese New Year, gift sets and premium dried seafood are in soaring demand, as Hong Kong people habitually prepare banquets for family reunions with all sorts of Chinese delicacies. Nonetheless, owing to the pandemic, it is no longer safe to hand over cash as they are doing shopping. From the public hygiene perspective, using contactless payment is more desirable. There is also a “Lucky Money” function which allows user to give red packet in an innovative way while keeping the tradition, sending blessings and wishes to loved ones in an environmental way as well. As a result, the use of Lucky Money function and AlipayHK has become a perfect alternative to keep everyone safe while enjoying the pleasure of celebrating Chinese New Year. It is destined that contactless payment methods like AlipayHK will be top-of-mind for Hong Kong people.