Consumption Voucher Scheme: The Perfect Gateway to Embrace Online Shopping and Digital Payments

Who doesn’t like receiving consumption vouchers? The Hong Kong government has disbursed the first $2,000 consumption vouchers to eligible registrants in mid-July. Immediately after this, Hong Kong’s use of digital payment systems has soared, with millions of new digital payment accounts created in these few months. With reference to a newspaper article published by SCMP, economists predicted that the Consumer Voucher Scheme (thereafter referred to as “the Scheme”) could boost the local economy by as much as 6% during the period between July and September in 2021. Besides stimulating the local economy, the Scheme has managed to accelerate the process of digital transformation in the city. Additionally, the number of merchants accepting digital payment methods has rocketed. If you are wondering why the Scheme has be so successful and effective in driving people towards online shopping and digital payments, keep reading.

Accelerating Digital Transformation

During the pandemic last year, the economy had been badly hit. Consumer’s desire to spend money out of their pocket was low due to the adversity and uncertainty which they were encountering. The introduction of the Consumption Voucher Scheme had brought more business opportunities for trades of all walks of life, such as the food and beverage industry, online retail industry and luxury industry. Being one of the leading official distributors under the Scheme, AlipayHK has made a contribution to the Scheme by facilitating a significant number of small and medium-sized enterprises (SMEs) to register their digital accounts as AlipayHK merchants, which in turn helped boosting the local economy.

Rising Popularity of Digital Payments

Under the Consumption Voucher Scheme, the government encouraged the general public to register electronically with any one of the four official e-payment service providers to receive the digital vouchers, rather than giving out cash directly. It is thought that the use of electronic payment is faster and more convenient. In Hong Kong, while there is an increased number of merchants who are providing digital payment solutions, there are more consumers switching to the use of digital payment methods in their daily consumption habits, including their transportation, meal, shopping habits. Undoubtedly, the application of digital payments is more and more prevalent in Hong Kong.

Supporting Online Shopping

Besides physical brick-and-mortar stores, online shops can benefit from the Consumption Voucher Scheme. AlipayHK has partnered with a variety of online shop platforms including Boutir, Shopline, Shopify and Posify, encouraging merchants to launch their online shops and make good use of the opportunities offered by the Scheme. It is a growing trend for people to enjoy their “shopping spree”. With digital payment platforms such as AlipayHK, consumers can fulfill their desire in buying a lot of things online within a short period of time, bringing them great convenience and satisfaction.

The Upcoming Evolution. What’s Next? The Hong Kong Smart City Blueprint 2.0, a project initiated by the government, is on the way. It is anticipated that Hong Kong will be undergoing an evolution to become a truly smart city in the foreseeable future. To name a few, Smart Mobility, Smart Living, Smart Environment, Smart People, Smart Government and Smart Economy are some of the key areas in the government’s project. Do you feel excited about the upcoming changes in Hong Kong? Let’s embrace the latest trend in smart city planning and development. You will be amazed by the great convenience brought by the digital payment revolution.

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