Details 29 June 2021
Hong Kong s upcoming e-voucher scheme will allow citizens to apply soon, and the city s financial secretary Paul Chan Mau-po said that it will boost Hong Kong s economy thanks to the multiplier effect. The scheme is also said to pave the way for embracing e-wallets in the future. Chan said on its weekly blog on Sunday that although electronic payment was not very prevalent in Hong Kong, this method, coupled with online shopping, are two main trends of the retail market in the future, offering more personalised products and services for citizens in the future and creating more opportunities to develop business for merchants and businesses.
Launching a bank - even a virtual one - is capital-intensive and it typically takes years to scale up, achieve critical mass and be profitable.. Read more at straitstimes.com.