Old habits are very powerful
In the Mainland, the mobile phone payment penetration rate has reached 98%. It can be described as 'one machine in hand, the world I have'. The mobile payment tools in the Mainland, led by Alipay and WeChat, have spread their tentacles all over the world. For example, to the Arctic Circle. Mainland tourists visiting the small town of Rovaniemi in Finland can now travel to the North Pole without a wallet.
The wave of mobile payment in the Mainland has certainly flocked to Hong Kong. Many shops in Hong Kong now have a full range of mobile payment tools: scan code guns, credit card machines, QR codes... A chain of pharmacies can accept as many mobile payment tools as possible. Twelve species. However, the main population using these tools is still mainland tourists, not local residents.
In fact, it is not surprising that Hong Kong people pay 'slow half-shooting' on mobile phones. Like Europe and the United States, the high popularity of electronic payment such as credit cards has shaped people's payment habits. Especially Hong Kong's Octopus card, with a total circulation of nearly 3,000. Wan Zhang, no need to register, convenient recharge, small payment frequency is extremely high, and even can be used as an access card for residential buildings. So convenient, no wonder it will become the number one enemy of mobile payment.
Unlike the Mainland, Hong Kong people do not often use online shopping because Hong Kong is a 'shopping paradise'. Shopping is 'shopping'. It is natural to use cash. Traditional restaurants such as restaurants in Hong Kong do not currently accept mobile payments. Both worry about the cost of buying equipment, and fear that financial statistics will become difficult.
The two giants are attacking
The 'Smart Payments Popularity Index' from the Hong Kong Productivity Council survey is composed of 'Business Smart Payment Readiness Level' and 'User Smart Payment Acceptance Level'. The data are 62.2 and 45.5 respectively. That is, the merchant uses mobile payment. The penetration rate is significantly higher than that of consumers.
At present, Alipay has entered many supermarkets and chain stores in Hong Kong. WeChat Hong Kong Wallet cooperates with BOC Hong Kong and ICBC Asia to provide users with functions such as small transfer, offline payment, online payment, remittance, red envelope sending and receiving and change. On the MTR's Luohu and Lok Ma Chau stations, passengers can use Alipay and WeChat to purchase tickets through special ticket machines. In addition, taxis, minibuses, markets, tea restaurants, small shops and other areas where Octopus has not yet entered, also It is gradually being taken over by Alipay and WeChat.
The data shows that Alipay has 1.5 million individual users and 15,000 merchants. At the same time, more than one million people in Hong Kong have opened the WeChat e-wallet function. Moreover, the mainland mobile phone payment giants are launching a wave of 'red envelope offensives. ', trying to change the payment habits of Hong Kong people. This year's Spring Festival, WeChat e-wallet will distribute 10 million Hong Kong dollars for the red envelope.
Popularity only takes time
As for the reasons why Hong Kong people refuse to use the new payment tools, according to the general manager of the HKPC, Mr Wong Ka-wai, the main reasons are 'unfamiliarity with operation' and 'fear of personal data leakage'. The industry pointed out that many Hong Kong citizens have used QR codes. Misunderstanding and suspicion, in fact, in terms of technology, mobile payment is more secure than credit card system.
Hong Kong is making every effort to build a smart city, and universal mobile payment is the trend. In early 2018, the Hong Kong Financial Affairs and Treasury Bureau Director Liu Yixiang said in the Legislative Council that the HKMA is working with the industry to build a fast payment system that can fully link banks and Stored value payment instrument operator.
According to reports, the fast payment system that will be launched in September can provide payment services and personal-to-individual transfer services between banks, even for transfers, debits, and merchants. Mobile payment tools such as Alipay can be added. This system. Fang Baoqiao, honorary president of the Hong Kong Information Technology Industry Association, believes that the fast payment system will become a 'watershed' that changes consumer spending habits.
Mobile payment merchants, the SAR government are fully promoting, from hardware facilities to regulatory software, Hong Kong's 'smart payment' environment has basically taken shape, and 40 million mainland tourists visiting Hong Kong every year have also provided a strong demonstration role. It is foreseeable that it will take too long, mobile payment will sneak into the daily life of most Hong Kong people.