Revolutionize Your Payment Game: Hong Kong Needs to Catch Up with the Electronic Payment Trend!
In today's digital age, electronic payments have taken the world by storm, but Hong Kong is still lagging behind.
The recent Labour Day Holiday Star Ferry incident is a perfect example of how outdated payment methods can cause chaos, long queues, and frustration. But fear not, Hong Kong! It's time to catch up with the electronic payment trend and revolutionize your payment game!
First up, it's time to put the power back in the hands of consumers! Hong Kong needs to establish customer-led standards, allowing more companies to compete in the market. This will create more choices for consumers, promote fair competition, and accelerate the development of electronic payments.
But that's not all - Hong Kong needs to embrace new technologies to keep up with the fast-paced world of payments.
Virtual currencies and biometric technology are the way of the future, and Hong Kong needs to jump on board to stay competitive. With virtual currencies, transactions are faster, cheaper, and not limited by national borders. And with biometric technology, payments can be made using facial recognition or mobile phones, making transactions faster and safer. Isn’t facial recognition with mobile phone authenticity hard to be implemented? Please check out how the Immigration Department realized the Contactless e-Channel project in 2021. https://www.info.gov.hk/gia/general/202111/30/P2021113000670.htm
Education and promotion are also key to promoting electronic payments.
Hong Kong needs to educate people, especially the elderly and low-income groups, about the advantages and security of electronic payments, so that they can better understand the procedures and precautions. Through social media, advertising, and other methods, Hong Kong can promote the benefits of electronic payments and encourage more people to use them.
But why stop there? Hong Kong can also learn from the successful experiences of other cities.
For example, QR code payment in Thailand and India has become an indispensable part of local residents' daily lives, and China’s mobile payment usage rate will be even more popular due to the initiative of e-CNY. Hong Kong can take inspiration from their success and implement similar strategies to promote electronic payments.
It’s time for Hong Kong to catch up with the electronic payment trend and revolutionize your payment game! By opening up the market, adopting new technologies, educating people, and learning from the success of other cities, Hong Kong can accelerate the development of electronic payments, improve market competitiveness, and provide better services for consumers.
