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Digital payments in Hong Kong – it’s all about making life simpler
- Thursday | 22nd April, 2021
People usually link the concept of digital payments with being paperless, contactless and online, but recent sentiment about Hong Kong’s electronic vouchers shows it takes more than that for digital payments to work. Key findings for Hong Kong include:Online shopping42% of Hongkongers are shopping more online during the pandemic, compared to 33% globally. 88% said when shopping online, the ease of use is as important as the quality of the product, compared to 72% globally. After launching services early last year, Hong Kong’s eight virtual banks have already attracted 420,000 customers, accumulating HK$15 billion worth of deposits, according to the Hong Kong Monetary Authority. Related article from three years ago: Digital payments firms struggle to crack Hong Kong market
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