CEO Message

Octopus Cards Limited (OCL) is pleased to be among the first batch of companies to be granted the stored value facility (SVF) licence, and will operate under the new Payment Systems and Stored Value Facilities Ordinance (PSSVFO) that commences on 13 November 2016, when the law governing our current licence under the Banking Ordinance will lapse. We will seize the opportunities arising from the new SVF licensing regime, by introducing more Octopus payment services to meet customers’ diverse payment needs. We will continue expanding our core electronic payment services covering transport, retail, self-service kiosks and online shopping, whilst upgrading our O! ePay services.

The rapid advancement of technology has been accompanied by its extensive application. As the Government introduces regulatory measures to facilitate the development of innovative technology, people have high hopes regarding Hong Kong’s FinTech industry. OCL will continue to drive the development of FinTech, and infuse our services with the latest new technologies to better serve the community at large.

Recently, OCL participated in the study mission led by the Financial Secretary to promote closer economic ties between Hong Kong and Kazakhstan, in light of the potential opportunities arising from the Belt and Road Initiative. We took the opportunity to share our successful experience in Hong Kong. Furthermore, we have collaborated with overseas partners to develop advanced smart ticketing systems.

Also, our senior management members addressed key industry practitioners at various regional and international conferences. These public forums included the SWIFT Payments Forum Hong Kong; Emerging Opportunities in the FinTech Space Conference; 2016 Digital Marketplace Seminar with “Smart City – Shaping Business Future” as the theme; The Future of Digital Payment in Hong Kong graced by the Financial Secretary, Mr John Tsang; Technology – Friend or Foe organised by Hong Kong Institute of Certified Public Accountants; and Brand Journalism – How to Turn the Corporate Newsroom into a Media Magnet. Through participating in these occasions, we engaged industry stakeholders while promoting Octopus’ leadership position.

Leveraging the introduction of our first network-based Octopus mobile payment service, O! ePay, in early Q2, we launched the Octopus Mobile Reader for users of iOS devices in July. This further enhances the function of Octopus O! ePay, enabling iPhone users to enjoy other Octopus online payment services via the "Octopus" App. More new features and functions will be added to the O! ePay later this year, so stay tuned.

In addition to our mobile payment service, Octopus applications have been further expanded offline, to cover further aspects of our daily lives. The “Top up with Change Service”, which we first introduced with 759 Store last December, has now been extended to AEON, creating a new customer experience when purchasing and reloading with Octopus. It boosts convenience for customers paying with cash, who can top up their Octopus with the change, thus enjoying a hassle free purchase without having to carry more banknotes and coins. With this service, topping up an Octopus with change will surely become a new trend!

Sustainability is a success factor in driving business continuity while fighting against global warming. As a responsible corporate citizen, Octopus Group is committed to advocating the development of sustainability, both in the workplace and in daily life. The Group has introduced a variety of measures for carbon reduction in the office, and organised a series of sustainability seminars by expert speakers, on topics spanning energy efficient lighting technology, pressing environmental issues in Hong Kong, and waste management problems.

With the new SVF regime effective from November and more competitors entering Hong Kong’s online and mobile payment market, we will continue striving to launch more innovative yet user friendly Octopus payment services for our customers, and enhance our industry leadership position as we meet the new challenges that lie ahead.

 

Sunny Cheung
Chief Executive Officer
Octopus Holdings Limited