Some 250,000 residents already enrolled in consumer stimulus plan

About 250,000 people completed their registration in the Macau SAR consumption stimulus plan, of which about 107,000 opted for the “mobile payment” method and 143,000 for the previously used consumer card, the Macau Economic and Technologic Development Bureau (DSEDT) indicated.

The new consumer stimulus plan will hand each permanent or non-permanent residence permit holder some MOP5,000 for immediate consumption, plus MOP3,000 in additional discounts.

Registration for the plan was initiated on May 7 and will last until December 10, with residents able to receive the amounts between May 24 and December 13, and with the money able to be used between June 1 and December 31.

Residents can opt to receive the money on the consumer cards provided in the previous rounds or eight locally registered mobile payment e-wallets, namely, Alipay (Macao), BOC Macau, CGB Pay, ICBC ePay, LusoPay, MPay, Tai Fung Pay e UePay.

As platforms advanced with promotions set on attracting residents to use their services for the plan, the DSEDT and the Macau Monetary Authority warned financial institutions that they must truly disclose the content of the benefits released on their promotions and call on residents to read the rules before signing up.

“Before the start of enrollment in the plan, financial institutions have already released details of the related activities to enable residents to be aware of and obtain information about this. Therefore, before enrolling, residents can carefully read the benefits program and the rules for use, in order to choose, according to their needs, and without the need to register in a hurry,” the AMCM noted.

Information on how to register can be consulted on the DSEDT page, in Chinese and Portuguese.

In total authorities predict some MOP5.9 billion will be injected into the local economy via this scheme, with the Legislative Assembly (AL) unanimously approving a MOP9.1 billion amendment to the 2021 budget proposed in order to be able to fund the different measures advanced to promote the economy and support employment and residents’ livelihoods.