Web Site: http://heycoins.hk
Coins have been in circulation since 1863 in Hong Kong. While making transactions more convenient, coins have caused some problems and inconvenience. For example, coins are not easy to be paid out after the public receive change in a transaction, since many retailers do not accept smaller bills and the denomination of coins vary. Also, coins are heavy and easy to lose. As a result, we store a large amount of coins at home. In addition, retailers also need a store of coins for change. Unfortunately, over the past five years, this required the government to produce more than HK$30 billion worth of coins.
HEYCOINS is a chain kiosk that tackles the hassle and inconvenience created by the use of physical coins. HEYCOINS Kiosk collects coins from the public and then converts them into digital currency, including e-wallets recharge, transportation/cash cards top-up, e-cash coupons purchase and charitable donations.
HEYCOINS will bring direct economic benefits and positive social impacts by recycling coins and removing coins from unwanted circulation. Also, by controlling the return of the stored coins back into circulation, HEYCOINS will greatly reduce the massive cost of manufacturing coins for future use.
HEYCOINS is positioning itself to be the gateway to FinTech for the masses. Our B2B2C business model takes the advantage of coins for attracting people to continually use our product and service. We will accumulate HEYCOINS users, build brand trust and build greater acceptance of FinTech solutions like e-wallets/cross-border settlements.
LAU Kong Shing (CityU)
HUANG Ruo Cao (CUHK)
LAM Chun Wai (CUHK)
RONG Nan (LU)
Prof. GAO Jin (LU)