Differing views on ATM KYC measures

There has been conflicting views of whether the new verification requirements placed at ATMs for holders of Chinese-issued Unionpay cards will have an impact on the gaming industry, Macau Business reports.

In May, the the government announced it would be implementing ID checking and facial scanning technology to UnionPay ATMs in a measure to combat capital flows out of China.

Macau’s Secretary for Economy and Finance, Mr Leong Vai Tac said the new measures were put in place to prevent people from misusing cash withdrawal facilities.

University of Macau Professor Davis Fong Ka Chio, in an interview with Macau Business said the new measures will not likely to have any significant impact on the gaming industry

The professor compared the latest restriction to the cash withdrawal limit was placed on Mainland Chinese-issued bank cards in December last year, noting that it did not affect the gaming sector much.

Fong said the new verification requirements will effectively prevent the use of other people’s cards, which is considered illegal, but said that it should not affect customers who spend legally.

On the other hand, Economist Albano Martins says the new implementation could indeed have an effect on the gaming industry, because “UnionPay cards are widely used to escape the authorities”.

“I believe the quantity of money that will be taken out from ATMs will be less,” he remarked.

“Because it takes longer to get money less money is taken from the machines and thus less money is used in the market,” he said.