HONG KONG SAR – Media OutReach – October 20, 2023 – HKT (SEHK: 6823) – As part of HKT, HKT Payment recently participated, as part of a cross-industry consortium, in the Monetary Authority’s e-HKD pilot program of Hong Kong (HKMA). , invited innovative companies from different fields, including Hong Kong Baptist Hospital, Trip.com, Hong Kong Management Association, The Club and Club Travel.[1]to participate in the use case of “tokenized real estate-backed collateralized loans with ring-fenced use” to test the ring-fenced payment function of the hypothetical e-HKD loan and provide information to the HKMA.
(From left) Felix Tsui, Chief Strategy Officer, Digital Ventures, HKT; Anthony Lam, Vice President, The Club, Digital Ventures, HKT; Terri Yang, Vice President, Loyalty and Strategic Business Development, Digital Ventures, HKT; Grace Wong, Director (Administration and Planning), Hong Kong Baptist Hospital; Monita Leung, Managing Director of Digital Ventures, HKT; Eddy Yip, Director of Product and Marketing, Hong Kong and Taiwan and Territory Manager, Hong Kong, Trip.com; Titania Woo, Executive Director, Hong Kong Management Association; Heidi Chan, Deputy Managing Director, HKT Payment Limited.
In the case of using the “tokenized secured loan backed by real estate with ring-fenced use”, the user goes through a process involving different parts of the cross-sector consortium. The process involves tokenizing a property owned by the user and using the resulting token.[s] to apply for a ring-fenced guaranteed loan. Leveraging the programming functionality of the hypothetical e-HKD, the loan is then disbursed via HKT’s hypothetical e-HKD wallet as a payment to merchants in the designated areas of healthcare, travel, education and e-commerce.
Containing the hypothetical e-HKD loan in the use case can help improve credit scoring and provide the user with more personalized offers, thereby benefiting consumers and merchants.
Monita Leung, CEO of Digital Ventures, HKT, said: “Constantly at the forefront of technology, HKT, through HKT Payment and HKT Merchant Services, has been advocating the development of fintech and the digital economy supporting the government’s consumer voucher program, the HKMA Consumer Voucher Scheme. Faster Payment System (FPS) and the recent e-HKD pilot program. We strive to collaborate with members of different industries to adopt and apply fintech and explore more payment possibilities. In the event that the HKMA confirms the implementation of e-HKD in the future, HKT will be able to offer timely support to merchants and expand the field of e-HKD payment.
HKT Merchant Services is committed to providing merchants and small and medium-sized businesses with innovative one-stop payment services, including Smart POS device which supports multiple mainstream payment acceptance methods and FPS payment solutions complete.
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