(Photo: MNA Finance Macau)
Industrial and Commercial Bank of China (Macau) has introduced a new service enabling the use of Macau's pataca for micro-payments on Hengqin island.
As per a company announcement on Thursday, the initial implementation of this service will be within the Macau New Neighbourhood community. Residents in this area can now opt to use either the renminbi or the pataca for transactions.
According to the bank, this initiative has eliminated the need for residents to rely on mainland Chinese payment applications or bank accounts.
The service, facilitated through ICBC Macau’s dedicated mobile app, currently extends to supermarkets, eateries, and beauty parlours.
Any transaction amounting to MOP60 (US$7.5) or more will now qualify for a MOP38 discount.
Source | Macau Business
