The second round of the government’s Consumption Subsidy Scheme, due to begin next month, will roll out with the top-up period commencing on July 27, the Economic Bureau announced yesterday.
Widely known as the e-voucher, the scheme was introduced to stimulate the local economy by putting money into the hands of small businesses amid the economic downturn brought on by Covid-19.
During a press conference held yesterday, the director of the bureau, Tai Kin Ip, said that cardholders can top up their e-vouchers at 190 locations across the city from July 27 onwards. Those locations include banks, government service centers, association service centers, and the three customer service centers of the service provider, Macau Pass.
All of the unused funds from the first round will be voided at midnight on August 1. Since no prior booking for the top up is required, Tai reminds residents to be flexible and go to less populous locations to top up.
Residents who have not registered for, obtained or have lost their card in the first round can get a new card without any prior registration if they desire. These residents can only obtain their new card at six government offices, such as the bureau’s office at Largo do São Domingos and the government service center at Areia Preta.
Lost cards, however, should be reported to the Public Security Police Force beforehand.
The government has also made a new rule to terminate the participation of businesses in the scheme if suspected profiteering activities are confirmed.
A dedicated website has been made by the bureau to familiarize residents with the second round of the scheme. Inquiries can also be made via telephone, WhatsApp, WeChat and email.
The number of cards issued or replenished in this second round could reach as many as 737,000, the government estimates. If correct, this will require and injection of about MOP3.68 billion into the market.
In the first round, a total of 624,000 cards were issued, representing an injection of MOP1.87 billion into the market.
Although a large amount of money was invested, a hike in inflation has not yet been detected. In reality, according to Tai, prices have recorded consistent decreases from April to June.
Tai stressed that Macau Pass has fulfilled its promise by not charging participating businesses any handling or transaction fees. According to Tai, the private company has rebated the amount in full to the businesses.
According to public broadcaster TDM, the private company disclosed that the rebate amounted to MOP11.5 million. In addition, Macau Pass spent MOP30 million on operational costs during the first round of the scheme.
Tai revealed that the government will allow Macau Pass to charge transaction fees in the second round. However, “it will be at a lower level than normal.”
The normal transaction surcharge taken by Macau Pass ranges from 0.7% to 1.2% per transaction. “But the company has pledged to charge at maximum 0.5% per transaction in the second round,” Tai disclosed. He added that actual amount depends on the agreement made between the company and participating businesses.
Assuming the number of cards remains 624,000 in the second round and all card owners spend their subsidy in full, Macau Pass will obtain MOP15.6 million from the market in terms of transaction surcharges.
FAQ
Q: Do I need to register for the second round?
A: No. Provided that you are Macau ID holder, whether or not you are in possession of an e-voucher card, no registration prior to the second round is necessary. You can top up your card if you have one, or obtain a new one if you have lost your card or have never had one.
Q: How can I top up my card/get a new card?
A: From July 27 to December 14, current card keepers can tap their cards against the console installed at 190 locations across the city, including banks and association’s offices, to top up MOP5,000 into their cards. Those without a card can visit six government locations to obtain a new card themselves or have someone do so on their behalf.
Q: How long will the second round last?
A: The MOP5,000 can be used from August to December. Similar to the first round, the daily spending limit is set to MOP300.
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