Press Release

Octopus Drives E-payment Adoption in the Taxi Industry
Over 40,000 Drivers Now Using Octopus Mobile POS
Taxi E-payment Transaction Value Surges Nearly 65% Year-on-Year

(Hong Kong, 1 March 2026) Starting from 1 April 2026, legislation requires all taxis to provide electronic payment options for passengers. In support of the industry’s digital transformation, Octopus Cards Limited (Octopus) has introduced multiple support measures to help the industry adapt to the new requirements. Octopus announced that more than 40,000 drivers have registered for the Octopus App for Business or adopted the Octopus Mobile POS, driving a significant increase in electronic payment transaction value – up nearly 65% year on year.

The Octopus App for Business and the Bluetooth-enabled Octopus Mobile POS support multiple payment methods – Octopus cards, Mobile Octopus, and various QR code payments – through a single device. This "one-device-serves-all" solution enables both local passengers and visitors to pay with ease, offering greater convenience and enhancing the overall travel experience.

Zero Setup Costs, Simple Application
Fast Approval, Ongoing Fee Waivers

To encourage a more widespread adoption of e-payments in the taxi sector, Octopus has continuously waived the bank account fund transfer handling fee for taxi drivers since the launch of the Octopus App for Business in 2018. This initiative aims to lower entry barriers and promote the industry’s transition to electronic payments. Drivers can simply download the Octopus App for Business and complete the application anytime, anywhere, with the entire process taking around 15 minutes. Required documents include a Hong Kong Identity Card, Taxi Driver Identity Plate, and proof of a bank account (such as a bank passbook or ATM card).

Once the account is successfully opened, drivers receive a complimentary Octopus Mobile POS, allowing them to start collecting electronic payments with zero setup costs. Drivers can choose to transfer fares to their Octopus cards for free or use FPS to enjoy the convenience of Octopus payments at zero cost. To date, more than 40,000 taxi drivers in Hong Kong have registered for the Octopus App for Business or equipped themselves with an Octopus Mobile POS reflecting a year-on-year increase of nearly 40%. The total transaction value of taxi e-payments processed via these tools has also surged by about 65% over the same period.

Tim Ying, Chief Executive Officer of Octopus, stated: “Octopus is committed to driving the digital transformation of the taxi industry. Since 2018, we have been working closely with the sector to understand the needs of drivers and passengers, and actively promote the wider use of electronic payments. We have been offering a zero‑cost payment solution for taxi drivers with currently no plans for adjustment, so they can adopt electronic payments with confidence and enjoy the convenience brought by technology. Octopus remains a trusted partner in supporting the taxi service in becoming more convenient, efficient and modern.”

 

Photo

Octopus, Head of Transport Business, Nora Tang shares the usage of Octopus Mobile POS

 

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