Consider Wong Tai Sin Temple, the place where people in Hong Kong go to make a wish, lining up to light incense sticks in the first hour of the Chinese Lunar New Year.

Although the Great Immortal Wong is famous for saying “what you get is what you request”, many believe he will also make wishes come faster if he sees more donations (which literally means adding incense and oil money).

And that explains why Wong Tai Sin received HK$360 million (US$46 million) in cash donations in its latest financial year, making it a very profitable enterprise that could be compared to a mid-sized listed company in Hong Kong.

On top of this comes the magic of Alibaba Group’s Jack Ma and CK Hutchison’s Li Ka-shing. Alipay Hong Kong, a joint venture between the two richest men in China and Hong Kong, yesterday launched a new feature for donations via mobile phones.

Now Taoism believers or anyone who wants to have their wishes come true can scan a QR code and make a cash payment to the temple of their mighty God.


Peer-to-peer (P2P) payment is not something new

Alipay is the first payment operator to come up with the idea of relaying electronic red packets over Chinese New Year, although WeChat by Tencent is probably credited for making it even more popular.

And Wong Tai Sin is one of the most innovative sacred places. The most popular temple in Hong Kong has gone online and offers services for online blessings, drawing divination and worship.

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

How are emerging markets combatting cryptocurrency-related crime?

A record $14bn in digital currencies were transferred to illegal addresses last year, according to blockchain data platform Chainalysis, up 79% on the $7.8bn recorded in 2020.

Emerging-Market Central Bank Asset Purchases Can Be Effective but Carry Risks

In previous years, it would have been mainly advanced economy central banks making purchases of government debt. However, for the first time on a significant scale, central banks in countries such as South Africa, Poland, and Thailand broke new ground through their use of asset purchases to combat market dysfunction.

SET to list Nasdaq 100 Index DR and China’s STAR 50 Index DR

Investors can trade DR in Thai baht via existing securities accounts, with fee similar to trading Thai securities, all day without intermission session.