“The experimental phase of the first phase of the aggregated payment service under the acronym “Simple Pay” which consists of “aggregated payment through the presentation of the “QR code” of the consumer” was launched today (the 8th) and ran as normal in the part of morning of the first day. Consumers can choose any of the “QR code” payment instruments available in Macau, for payment at establishments that have affixed the “Simple Pay” logo, with more stores taking part in this program in succession.” AMCM

Monetary Authority of Macao

The official currency is the Macanese Pataca which pegged to the HKD.

The Government has granted authorization to two commercial banks, the Banco Nacional Ultramarino, S.A. and the Bank of China (Macau) Limited, to issue banknotes in Macao. For the issuance or redemption of banknotes, the two note-issuing banks are required to make corresponding payments in Hong Kong dollars to AMCM, at the fixed rate of HKD1 to MOP1.03 under the Linked Exchange Rate system.

There are signs of digitization with the Simple Pay program.

There is no solid evidence of CBDCs being planned.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

By cryptorocks_editor

Editor.