Consumers Wary of Handling Banknotes amid Infection Fears Octopus Transactions Surging, as Safe Way to Pay
To prevent being infected by the new coronavirus, the public are adopting precautionary measures, such as wearing surgical masks and using hand sanitisers. However, cash changes hands frequently and could possibly carry viruses, thus contributing to the spread of disease. The World Health Organisation has encouraged consumers to use contactless payments while the US Federal Reserve has started “quarantining” banknotes that it repatriates from Asia for 7 to 10 days, before releasing them back into circulation, as a measure against spreading the virus.
How to avoid handling banknotes but to effectively manage daily transactions? Octopus e-payment is a sanitary and convenient choice. Sales and Marketing Director Rita Li said the public health crisis prompted a jump in retail sector Octopus transactions during the first two months of 2020, especially in supermarkets and personal health care stores. The number of merchants joining the Octopus system likewise jumped twofold, reflecting increasing acceptance of the Octopus e-payment system. In addition, there was a 20% year-on-year increase in the average value of transactions via O! ePay electronic wallet, with nearly 60% growth in the average value of transactions via O! ePay Mastercard, showing customers are favouring e-payment.
Apart from handling their day-to-day transactions, customers can also set up electronic Direct Debit Authorisation (eDDA) at home through the Octopus App, for instantly topping up Octopus for themselves, family members and domestic helpers via fund transfers from bank accounts. In addition, customers can collect public transport fare subsidies via the Octopus App, further minimising contacts among people. The stored value limit for Octopus has been increased to HK$3,000.
Octopus can not only be used for taking public transport, making purchases at wet markets, retail shopping, online shopping, but also paying taxi fares and fees for government tolled tunnels. It is convenient and hygienic. During the coronavirus epidemic, Octopus is an ideal choice for the public’s daily payments.
