The online registration period to access credit funding allocated to Macao ID holders under the electronic consumption benefits plan will run from 7 May to 10 December 2021, inclusive.
The consumption benefits plan via electronic payment methods is part of a series of Government measures designed to ensure local employment, boost the economy, and ease livelihood-related hardships.
The Executive Council announced today during a press conference a draft proposal for a by-law concerning the electronic consumption benefits plan.
Detailed arrangements for registration, credit funding allocation, and usage, were announced today during a separate press conference jointly held by the Economic and Technological Development Bureau, the Macao Monetary Authority, and the Social Welfare Bureau.
Macao ID holders who have successfully registered – through a dedicated website of the Macao Monetary Authority – may receive the credits by 24 May at the earliest. The period for using the funds will run from 1 June to 31 December 2021, inclusive.
Under the plan, Macao permanent resident ID holders and Macao non-permanent resident ID holders will each be entitled to a start-up fund of 5,000 patacas, and a discount grant of 3,000 patacas. They can choose either to use one of the eight locally-registered mobile payment platforms, or their electronic consumption card, in order to enjoy the benefits of the scheme.
Those Macao ID holders wishing to receive the credit funding from one of the eight locally-registered mobile payment platforms, must have a verified account from that particular platform’s supporting financial institution.
Upon registration for the scheme, Macao ID holders can also opt for the funds to be allocated either to a relevant account they hold personally, or have the credits transferred to a verified account owned by others.
Funds for minors eligible for the scheme can be transferred to either a parent or a guardian. Those aged 12 to 17 who have a verified account at a financial institution, have the option to allocate the funding to their own account, or transfer it to another verified account.
Those Macao ID holders wishing to receive the funds via their electronic consumption card, can from 24 May top up their card from one of the 170 available service points. It takes two working days for the electronic consumption card to be recharged with such funds after completing online registration. The electronic consumption card must be emptied before recharging it with this particular funding from the Government.
During the active period of the scheme, 1 June to 31 December 2021 inclusive, the maximum daily spend for each recipient will be 400 patacas per day. The daily aggregate is split between a maximum of 300 patacas via the start-up fund, and up to 100 patacas via the immediate-discount mechanism applicable to the purchase price of a consumption item.
The newly-introduced 3,000-patacas discount grant is designed to offer an immediate discount of 25 percent upon the purchase of eligible goods or services making use of the start-up fund. The mobile payment platform or theelectronicconsumptioncard can be topped up once the start-up fund is emptied, namely for holders to use up their 3,000-patacas discount grant.
The discount will be applied automatically. A receipt for each item of spending occurring via the electronic consumption benefits plan will display clearly the amount used via respectively the start-up fund, and the discount grant system, and the post-transaction balance of each fund pot.
Redemption of credit funding via the start-up fund and via the discount grant is permitted when purchasing goods or services. But such funds neither can be exchanged for cash, nor used for any one of the following: payment of water, electricity or fuel tariffs; gaming; payment of tourism services to be delivered outside Macao; medical services; bank services; payments either to financial institutions or pawnshops, or other types of service as specified by relevant regulations.
To ensure the electronic consumption benefits plan is implemented smoothly, the Economic and Technological Development Bureau, and the Macao Monetary Authority, have made preparations regarding registration and allocation. Their effort has included holding meetings with representatives of the eight financial institutions involved to review technical arrangements; consultation with other public departments involved in the plan; and seminars for social welfare organisations involved in the process.
