Covid-19 pandemic speeds up adoption of mobile banking – HKMA’s Yue
Eighty per cent of payments under Cash Payout Scheme were made electronically, HKMA chief says
Use of mobile banking and electronic payment services rose in Hong Kong during the Covid-19 pandemic, as social distancing pushed older generations to embrace the technology, according to the Hong Kong Monetary Authority (HKMA).
Around 80% of payments under this year’s Cash Payout Scheme – Hong Kong’s stimulus package – were made through electronic registration, beating the authorities’ expectations, Eddie Yue, chief executive of the HKMA, said in a speech on September 28.
“The Covid-19
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