One of the reason that Hong Kong still stay in cash payment is HK government couldn't track small businesses incomes. The majority of business is small to medium size businesses.
You can boost up your expenses and show a smal profit and pay from that pennies. Biggest reason, people don't want to pay fees to banks for transactions and they can pay cash to their employers, especially one live at public housing on paper they make 15-20k hkd, I reality double than that. Pay less taxes and have cheap housing, that's the biggest perk of cash for those people. Go to any public housing and you'll see most people pay with cash even the shop would accepts cards and ocotpus. 😂
The mate doesn't know what is he talking about, 95% cha chaan tengs would accept octopus, Dai pan dongs especially at the government markets, all accepts cards.
Do you think a fully cashless society is the way forward? What are the benefits or challenges you've faced with digital payments? Let’s discuss!
Why no one says the number one reason? vendors needs to pay a fee per cashless transaction. of course they refuse to make less profit.
One of the reason that Hong Kong still stay in cash payment is HK government couldn't track small businesses incomes. The majority of business is small to medium size businesses.
You can boost up your expenses and show a smal profit and pay from that pennies. Biggest reason, people don't want to pay fees to banks for transactions and they can pay cash to their employers, especially one live at public housing on paper they make 15-20k hkd, I reality double than that. Pay less taxes and have cheap housing, that's the biggest perk of cash for those people. Go to any public housing and you'll see most people pay with cash even the shop would accepts cards and ocotpus. 😂
The mate doesn't know what is he talking about, 95% cha chaan tengs would accept octopus, Dai pan dongs especially at the government markets, all accepts cards.