HKT Payment was recently part of a cross-industry consortium in the Hong Kong Monetary Authority (HKMA) e-HKD Pilot Program. As an extension of this involvement, the company has invited innovative enterprises from different fields to participate in the "tokenized property-backed secured lending with ring-fenced usage" use case to test the hypothetical e-HKD loan apparatus and provide input to the HKMA.
In this use case, the user interacts with cross-industry consortium participants. User property is tokenized and used to apply for a ring-fenced secured loan. HKT's hypothetical e-HKD wallet pays merchants in healthcare, travel, education and e-commerce with the loan using its programmability.
If the hypothetical e-HKD loan in the use case were to be ring-fenced, this might help enhance credit evaluation and give the user more personalized offers, which would be beneficial to both consumers and merchants.
Ring-fencing the hypothetical e-HKD loan in the use case may help improve credit assessment and provide the user with more personalized offers, again benefiting both consumers and merchants alike.
Monita Leung, CEO, Digital Ventures, HKT, noted, "Consistently at the forefront of technology, HKT, through HKT payment and HKT merchant services, has advocated the development of fintech and the digital economy by supporting the government's Consumption Voucher Scheme, the HKMA's Faster Payment System (FPS) and the recent e-HKD Pilot Program. We strive to collaborate with members of different industries to embrace 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 in a position to offer timely support for merchants and broaden the realm of e-HKD payment."
HKT Merchant Services is dedicated to providing innovative one-stop payment services to merchants as well as small and medium-sized businesses. These services include the smart POS system, which supports numerous mainstream payment acceptance methods and complete FPS payment solutions.