Macau Pass plans to extend its MPay electronic wallet to Hong Kong next year in conjunction with the latter’s Octopus Holdings cashless payment platform, the South China Morning Post reported today, quoting Joe Liu, director of the Macao-based mobile payment provider Macau Pass.
The report did not say when or where Liu made the remark.
“The firm [Macau Pass] hopes to offer MPay in the second quarter of next year in Hong Kong,” Liu was quoted as saying. Liu described Hong Kong as the “favourite destination” for tourists and businesspeople from Macao.
The report said the plan was an “important step towards creating a seamless payment system across the Greater Bay Area [GBA]”, which comprises the nation’s two special administrative regions of Hong Kong and Macao as well as nine cities in Guangdong province.
According to the report, MPay is used by 440,000 people in Macao, or 64 per cent of Macao’s population.
Macao’s pataca is pegged to the Hong Kong dollar at HK$1=MOP 1.03 (or MOP 1 = HK$0.97).
While the pataca is Macao’s sole legal tender, the Hong Kong dollar has been the city’s customary tender for decades.