Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Hong Kong chooses 4 e-payment platforms

Four electronic payment providers were chosen by Hong Kong to operate the city’s HK$36 billion digital voucher scheme this summer, which is estimated to bring economic growth of 0.7 percentage points this year, Hong Kong’s Financial Secretary said recently.

The four providers each cover about 30,000 to 100,000 merchants in retail, food and beverage, and service industries in Hong Kong, the city’s Financial Secretary noted.

“When identifying the operators, the government has taken factors into consideration including the provider’s experience, popularity, and their coverage of merchants,” the FS said, adding that the four providers are the customary payment tools for people in Hong Kong.

A central registration system will be set up so that any qualified Hongkongers above 18 years old will be eligible to collect a HK$5,000 digital consumption voucher this summer, according to the official.

The total planned issuing scale – HK$36 billion – is expected to shore up Hong Kong’s economic growth by 0.7 percentage points; meanwhile, it will push small merchants to adopt electronic payment, he noted.

The Financial Secretary stated that in order to produce the best possible economic results, in addition to the fast containment of the coronavirus in Hong Kong, it is hoped that all of the payment providers and merchants in retail, food and beverage and other service sectors can promote the scheme actively, and even offer discounts across different sectors so that the electronic vouchers can see a multiplier effect, prop up the local economy and market.

The economic stimulation effect of issuing digital consumption vouchers is twice that of issuing cash according to the Chairman of the China Silk Road iValley Research Institute. In particular, it is effective in boosting tourism – any 10 yuan digital voucher can feed into 300 yuan of consumption.

He noted that over the past year, the consumption willingness of Hongkongers was severely restrained. As long as the SAR government, business sector, and especially the small and medium-sized enterprises (SMEs), can come up with methods to unleash the consumption potential, it will definitely help sales.

Hong Kong’s economy dived 6.1 per cent last year – the biggest annual contraction in history – as the coronavirus hit its tourism and consumption sectors.

When containment measures relax in the future, experts suggest that more Hongkongers spend in Hong Kong for the city’s ‘self-rescue’ instead of travelling to other cities. The Chairman added that the average number of times that Hongkongers travel abroad each year has hit 11.4 – the highest in the world.

In order to be back on track, Hong Kong could grasp the opportunities by actively getting involved in the Guangdong-Hong Kong-Macao Greater Bay Area, while the Chinese mainland sees brisk economic rebound, the expert stated.

According to an earlier article, Hong Kong’s finance chief unveiled a spending blueprint with fewer but more-targeted relief measures, including an unprecedented digital voucher scheme for residents to spur consumption, while forecasting a substantial recovery from the recession that could see economic growth of up to 5.5 per cent in the year ahead.

Presenting a budget focused on reviving the economy and easing the burden on a population struggling under the Covid-19 pandemic, the Financial Secretary had, on 24 February 2021, warned of a record deficit of HK$257.6 billion (US$33.14 billion) for the current fiscal year and more annual deficits ahead as he scaled down relief measures by a third.

Another report noted that the government’s electronic spending voucher scheme will hopefully promote e-payment in Hong Kong. Some believe the scheme will attract more small shops – especially stalls in wet markets – to install e-payment systems.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.