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Hong Kong’s digital payment space has been brimming with activity in recent years and these developments have significantly changed the way we buy, sell and pay.
Following the Hong Kong Monetary Authority’s granting of 8 virtual banking licenses back in 2019, many of the major players have since collaborated with their respective retailing partners to launch debit cards to promote consumer spending. The sharp drop in tourists in the city as a result of the restrictions related to Covid-19 has also contributed to the growth of local players in the digital wallet landscape. Burgeoning industries such as consumer foodservice and mass transit have meanwhile jumped on the digital payment bandwagon by adopting QR code or NFC (near field communication) payment methods.
Session title: Shaping a Cashless Economy: The Current and Future State of Digital Payment in Hong Kong
Session description: In this presentation, Emily will detail how trends in digital payment have shaped Hong Kong’s payment landscape and the state of financial inclusion, and share what lies ahead:
• Industry snapshot on Hong Kong’s payment landscape
• Case studies on digital wallets and virtual banking applications in the Asia market and analysis of the digital commerce landscape
• Future of proximity payment–QR codes and NFC applications across a range of industries
Session date and time: Wednesday, 16 June at 11:00am HKT
Speaker name and title: Emily Leung, Senior Analyst, Euromonitor International