Electronic payments rise in retail and dining sectors in May

Electronic payment transaction values for restaurants and similar establishments and retail trade continued to grow in May, according to data from the Information from the Statistics and Census Service (DSEC).
Restaurant-related electronic transactions rose 1.8% year-on-year to MOP1.19 billion in May. Within the sector, fast-food restaurants and local-style cafés, congee and noodle shops recorded gains of 5.1% and 4.8%, respectively, while Chinese restaurants saw a 4.5% decline. In the first five months of the year, total transaction value for restaurants and similar establishments increased 2.0% year-on-year to MOP5.86 billion.
Retail trade posted stronger growth, with electronic payment transaction value reaching MOP4.90 billion in May, up 14.0% year-on-year. Significant increases were recorded in watches, clocks and jewelry retailers (+34.2%) and cosmetics and sanitary articles retailers (+33.1%), while department stores fell 5.0%.
From January to May, retail transaction value rose 17.1% year-on-year to MOP25.37 billion. DSEC noted that electronic payments account for around 70% to 80% of sector receipts, with cash transactions not included in the data.
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