Hong Kongers are spoilt for choice when it comes to cashless payments. Whether it is paying for groceries, a cup of coffee or a meal in a restaurant, most places provide payment options using the Octopus card, mobile e-wallets and credit cards.
The Octopus card is very popular, with China Daily Asia reporting last September that users chalked up daily spending of HK$173 million (S$31.3 million).
Last year, the Hong Kong government approved stored-value licences for 13 e-wallet providers. They include PayPal, Optal, UniCard, Alipay Wallet, Tap&Go by PCCW's HKT and Tencent's WeChat Pay.
Following the launch of Apple Pay last July, Android Pay introduced its touchless payment system at more than 5,000 locations in the city.
A report by research firm Statista estimated the total value of digital transactions in Hong Kong will reach US$13.85 billion (S$19.45 billion) this year.
With an annual growth rate of 16 per cent, it is expected to hit US$25.1 billion in 2021.
Last year, the value of total retail sales was HK$436.6 billion.