Mobile payment volume up by a third in Q1

The transaction volume of mobile payments has jumped by 31 per cent quarter-to-quarter in the first quarter of this year to some MOP3.1 billion (US$387.5 million), according to the Monetary Authority of Macau (AMCM).

Mobile payments have seen a considerable boost in the SAR since the pandemic outbreak, as government-led economy stimulus programmes request the installation of mobile payment platforms by businesses.

Just in 2020, the total value of mobile payments in Macau reached MOP6.33 billion, 71 times more than what was recorded in 2018 and five times higher than in 2019

The average amount per transaction reached MOP88.2 between January and March of 2021 with a total of 34.7 million transactions reported, more than 40 per cent than in the previous three months.

At end-March 2021, the number of mobile payment terminals and QR code signs also totalled some 76,700, more 9.1 per cent quarter-to-quarter.

A Macau SAR consumer stimulus programme will start in June, allowing residents to receive MOP5,000 for immediate use and MOP3,000 in consumer vouchers via eight mobile payment platforms, namely, Alipay (Macao), BOC Macau, CGB Pay, ICBC ePay, LusoPay, MPay, TAI FUNG Pay e UePay.