Central Banking

Covid-19 pandemic speeds up adoption of mobile banking – HKMA’s Yue

Eddie Yue
Eddie Yue

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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