Monetary Authority bypasses questions on encouraging Simple Pay

The Monetary Authority of Macao (AMCM) has recently announced that, as of end of April, the proportion of businesses participating in Simple Pay unified mobile payment platform upgrade has just crossed 60%. This follows the announcement of the upgrade in March. Questioned twice on the policies to encourage the remaining 40% of local businesses to embrace the upgrade, Lau Hang Kun, member of the Executive Council of the AMCM, reiterated that the authority had been encouraging the business sector to opt for the unified platform, given the growing trend towards mobile payment considered by the AMCM. Nonetheless, Lau did not refer to any specific policy.
On the other hand, she hinted that the AMCM had no desire to interfere with “commercial decisions” made by one mobile payment service provider restricting promotions to its own payment console.
It means that benefits offered for this stimulus scheme by the service provider can only be obtained when the payment is processed by the payment console of that particular service provider.
A reader told the Times that the other seven service providers have followed the government’s initiative of the Simple Pay platform and opted to open the benefits enjoyed to payments processed by their competitors.