Macau Pass is set to launch its MPay electronic wallet services in Hong Kong by the second quarter of 2021, enabling local residents to use the mobile app in the neighboring city.
This move is a step towards further integrating cashless payment in the Greater Bay Area.
“The firm hopes to offer MPay in the second quarter of next year in Hong Kong, the favorite destination for tourists and businessmen from Macau,” said Macau Pass director Joe Liu, as cited in a report issued by South China Morning Post.
According to the report, the MPay wallet will be a collaboration with Hong Kong’s Octopus Holdings.
Both Hong Kong and Macau residents can pay for goods and services denominated in either Hong Kong dollars or patacas while using the app.
Liu is a supporter of a cashless society. Previously, he told the Times that Macau would become a cashless society within the next five years.
The local e-payment service provider had a profit after tax amounting to 35.6 million patacas for the 2019 financial year.
The company has also announced that it handled 16% more transactions compared with the previous financial year, which generated a 74% increase in the monetary value handled. LV
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