Third stimulus | Registration for consumption subsidy starts tomorrow, transfer of funds possible

Registration for the third round of the consumption subsidy scheme will start tomorrow, Tai Kin Ip, director of the Economic and Technological Development Bureau (DSEDT) announced yesterday.
Similar to the consumption card scheme last year, the forthcoming consumption stimulus will allow transfer of funds, among other convenient options.
Last year, the consumption card scheme allowed voluntary transfer of the card to another person for use during the period of the card’s validity. Collection on behalf of an applicant was also permitted, provided that a consent form signed by the applicant and the applicant’s ID card were both presented upon collection.
Following this model, this year’s scheme will allow a similar mechanism, although it will involve mobile payment options. The coming stimulus scheme will take two forms: mobile payment and the consumption card.
As previously announced, the government will inject MOP8,000 – MOP5,000 as a spending fund and MOP3,000 as a discount fund – into either the mobile payment platform or the consumption card of eligible registrants, including holders of valid or renewable Macau permanent or non-permanent ID.
Therefore users will be able to make purchase with the MOP5,000 while enjoying discounts deducted from the MOP3,000. There is a daily cap for each of the funds: MOP300 for the spending fund and MOP100 for the discount fund.
For example, when a user makes a purchase of MOP400 using the registered card or mobile payment platform, MOP100 will be discounted immediately upon payment. The remaining MOP300 must be paid with the spending fund. In this case, the daily amount for both funds will be used.
The DSEDT director stressed that both the funds must be used in each payment, meaning that it will not be permitted to use one fund without using the other.

Choosing the consumption card
If an eligible resident opts to use the consumption card issued last year for this coming stimulus, they will be able to do so in different ways and under different conditions.
Should they be in possession of the card, they can register online to use the card during the registration period. When the fund injection period starts, they can visit any participating top-up point to obtain the funds. The top-up process will be identical to that of last year when funds were issued for the second phase of the stimulus.
If the consumption card has been converted to a normal Macau Pass card, the balance of the card must be used up in order to obtain the funds under the present stimulus scheme.
For those who have lost their consumption card, they will need to report the loss to the Public Security Police Force before they can register for a new card. When their application gets approved, they will get a new card with the funds on it. The process, once again, will be similar to those in the two phases of consumption stimulus last year.
New applications for consumption card will also be taken for individuals who have never obtained one. Newborns can apply for and obtain their funds by their parents.

Choosing mobile payment
Residents who opt for mobile payment will also be required to register online.
There are eight mobile payment platforms in Macau, which all will be participating in this stimulus scheme. Updates have been made to the mobile payment apps to facilitate the scheme with a dedicated section added to their platform to not mix up with regular spending needs. Users are reminded to update the apps on their mobile devices in order to avoid complications.
In order to use mobile payment for the scheme, owners of these accounts must verify their identity with the service providers, referred to as “true-identity verification” by the government.

Fund transfer
Stimulus funds for minors can be transferred to their parents or legal guardians. Funds for minors aged between 12 and 17 years, meanwhile, can be used by themselves as long as they have completed true-identity verification.
Fund transfers made on mobile payment platforms have restrictions. After applying for a transfer, the stakeholders must verify the transfer with their ID cards at branches of the mobile payment service providers concerned.
At the same time, the transferrer and the recipient must use the same mobile payment platform. For example, funds registered with Alipay can only be transferred to another eligible Alipay account.
Each eligible account can only receive or hold funds of eight users, meaning that each account will be able to hold at maximum MOP40,000 of government consumption stimulus funds.
When funds are accumulated, the discount will also be so. The daily spending cap will be raised in multiples of the single daily cap of MOP300, as well as the daily discount cap. For example, an account holding the funds of three individuals will enjoy a daily spending cap of MOP900 and discount cap of MOP300.
The DSEDT director, however, stressed that once the fund falls back within a lower tier, the daily caps will be downgraded to the standards of that particular tier. Using the aforementioned example, when the fund falls from MOP15,000 (fund for three) to MOP10,000 (fund for two), the daily caps will fall accordingly to MOP600 and MOP200.
Considering that each mobile payment service provider is offering different privileges, Tai reminded residents to “take their time to make thorough considerations and grounded decisions to choose the platform most suitable for their daily use.”

Key dates of the third stimulus scheme

Online registration: May 7 (9 a.m.) – December 10
Fund in: May 24 and onwards
Use period: June 1 – December 31
Registration method: www.amcm.gov.mo
Eligibility: Holder of valid Macau permanent or non-permanent ID card