The Monetary Authority of Macao (AMCM) says it plans to make it easier for bricks-and-mortar retailers to accept cashless payments, and reconcile funds and balance accounts, the Macau Post Daily reported.
According to the authority, improvements will be made to the Simple Pay point-of-sale terminal, which was launched in 2021, combining digital payment methods like Mpay, MacauPass, Alipay, BOCPay and Tai Fung Pay.
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The security and capacity of Simple Pay will be improved and a simplified version will be introduced, along with an option for a larger font. The AMCM says registration-free micro-payments will be the next step in making daily payments more convenient.
The AMCM recorded 260 million local mobile payment transactions in 2022, valued at 26 billion patacas, an increase of about 40 per cent over 2021 and a significant increase of more than 20 times over the pre-pandemic year of 2019.
