China-compatible e-money cards to launch in early 2016

David Lao

Local smart card service provider Macau Pass is slated to issue a new range of cards next January, having joined the mainland authorities’ ongoing initiative to unify all public transportation payments under a universal pass.
The company, formerly the issuer of the Transmac IC Card, said the new cards will require another month to enter circulation, as the relevant transport terminals will only be ready to process the new smart cards in February.
The cards will also make shopping easier for mainland tourists in the region. Cards bearing the City Union logo can be issued and used in any of the 72 cities participating in the fast-growing initiative.
“It’s now unnecessary to change currencies, and worries about [finding] change could also be reduced while shopping,” said David Lao, Macau Pass executive deputy general manager, on the sidelines of yesterday’s forum on the service and its benefits.
“We have taken care of locals’ needs and are now aiming for mid- to high-end tourists,” he added.
Like the company’s existing products, the planned electronic service will also extend to car parking, venue booking, dining, shopping and entertainment. After February, the company will modify terminals in other sectors in line with the new service model.
Lao also believes that the profitable market could bring in more partnerships with other local firms and stores that may covet mainlanders’ purchasing power.
City Union cardholders from across the border can now use renminbi to pay their bills in the territory.
In addition, the company aims to extend the service to locals frequenting the mainland, who need only pay the price of a standard Macau Pass in order to obtain the new card.
Shen Feifei, an official from the mainland regulator of digital techniques, told the media that China’s move to unify payment methods could also create job opportunities, as the service requires skilled computer engineers to support operations and maintenance.
The authorities are also targeting Hong Kong for the collaboration. However, Shen said that it may take some time for the systems to merge, as the former British colony has already developed its own e-money card service – the Octopus card – which has been in use for years.
Beijing’s network, planned as early as 2008, has been admitting cities in phases since 2012.