Background
Hong Kong has experienced significant growth in electronic payment (e-payment) methods over the past decade. With the rapid advancement of technology and increasing demand for convenience, e-payment solutions have become increasingly popular among businesses and consumers in Hong Kong.
Exchange of goods is one of the core activities in a modern society. In order to successfully exchange goods, money was created and used. Consumption is a prerequisite of a country or city’s GDP while payment is a significant part of a complete consumption. There is no denying the prevalence of payment in people’s daily lives. With the rise of e-payment tools and platforms in Hong Kong, more options are provided to users. The variety of e-payment is an issue that needs more attention and study.
Objectives
1. To investigate the usage of mobile payment tools among people from different backgrounds in Hong Kong
2. To evaluate the impacts of mobile payment on consumers’ habits and behaviours in Hong Kong
3. To examine the benefits and challenges of Hong Kong’s transition to a cashless city
4. To propose strategies and recommendations for a successful cashless transition in Hong Kong
Methodology
Schedule & Milestones
Phase 1: Inception
- Early research
July – Oct 1 (Completed)
Phase 2: Elaboration
- Questionnaire design
- Questionnaire distribution
- Data collection
- First round analysis
Oct 2 – Jan 21
Phase 3: Construction
- In-depth analysis
- Result discussion
- Suggestions
Jan 21 – Apr 26