Official reminds risk of overconsumption as citizens receive e-vouchers

Citizens should not overspend the e-voucher and be warned of the Buy Now Pay Later apps as the second batch of consumption vouchers launched, said Consumer Council.

Noted in a TV program, Chief Executive of Consumer Council Gilly Wong Fung-han said that systems for both payment platforms and merchants are quite mature in using consuming vouchers now.

She mentioned that some emerging shopping service platform apps named “Buy Now Pay Later” which allow consumers to pay for three to four installments when shopping.

These kinds of apps aim mainly at the youth, housewives, and other people with low purchasing power.

People can take advantage of the Buy Now Pay Later mechanism, Wong said, but there are risks for it may lead to overspending for consumers.

“The complaints about consuming vouchers for the second round which the council received are 400-500 less than last round,” said Wong, “while mainly of them involved large purchase.”

“Consumers should pay more attention when using consuming vouchers and identify the actual amount of the money paid,” Wong reminded.