Press Release 3 May 2018
Octopus Re-enters the Taxi Payment Market
Boosts Convenience for All Taxi Passengers
(Hong Kong, 3 May 2018) Octopus Cards Limited (OCL) announced today its re-entry to the taxi payment market, with Octopus App for Business now offering greater ease to taxi drivers to accept Octopus payment from all passengers.
This initiative offers not only a brand new customer experience, but also makes taxi fare payment easy and secure. The Octopus App for Business can turn any taxi driver's NFC-enabled mobile device into an Octopus reader for accepting payment by Octopus cards. In addition, the app can accept Octopus O! ePay QR code payments. This unique service will enable taxi drivers to better serve the vast market of passengers who hail taxis on the street, and can now pay taxi fares with an Octopus card, just as they currently pay for many other modes of public transportation.
"With our unique service edge, taxi drivers can now reach out to almost all Hong Kong people who are using Octopus – there are more than 34.8 million of Octopus in circulation. Customers can simply tap their Octopus cards onto taxi drivers' NFC-enabled mobile devices; or scan a driver's QR code to pay through the passengers' O! ePay account to enjoy quick and simple Octopus payment options," said Mr Sunny Cheung, Chief Executive Officer of OCL.
The initiative includes a speech recognition feature to enhance the user-friendliness of Octopus App for Business, saving taxi drivers' manual input of the payment amount by simply speaking to the app – making it particularly suitable for swift payments in a fast-paced business like the taxi trade.
OCL will offer incentives to encourage taxi drivers' acceptance of Octopus payment. From now till 29 June, each taxi driver who successfully signs up for a Business O! ePay account will be entitled to a HK$150 welcome reward, plus a HK$200 usage reward if the cumulative taxi fare paid by Octopus cards or O! ePay QR code reaches HK$1,000 within the first 30 days. Furthermore, taxi drivers can also enjoy a waiver of the first 12 months' Bank Account Fund Transfer Fees. There is no installation fee or setup fee for a Business O! ePay account. Taxi drivers can receive transaction settlement in one to two business days once they make the transfer from their O! ePay account to their bank account. They can also get real-time transaction updates via the app to ensure accuracy.
Additionally, OCL will collaborate with taxi-hailing apps, including the popular Fly Taxi and a start-up, We-Taxi HK, to promote the acceptance of Octopus payment among customers who prefer using mobile apps for taxi-hailing services. Both taxi apps will have features integrated with Octopus App for Business, to facilitate the ease of Octopus payment by passengers and encourage Octopus payment acceptance by taxi drivers.
This new Octopus card payment acceptance option via Octopus App for Business is expected to become popular among taxi drivers and passengers alike overtime, to help drive the taxi trade in adopting electronic payments, which is a vital step in facilitating Hong Kong's development into a smart society.
"This initiative signifies our commitment to providing inclusive, easy-to-use and customer-centric payment solutions with choices, benefitting different businesses and all walks of life," added Mr Cheung. "The taxi trade is an important industry in Hong Kong and we are excited to play a part in helping the trade embrace electronic payments."
So far, more than 1,000 taxi drivers have already applied for the Business O! ePay accounts via a simple registration procedure.
Photo Caption
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1. Mr Sunny Cheung, CEO of OCL, announces today the company's re-entry to the taxi payment market, with Octopus App for Business now offering greater ease to taxi drivers to accept Octopus payment from all passengers. ![]() |
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2. Mr Sunny Cheung demonstrates how customers can simply tap their Octopus cards onto taxi drivers' NFC-enabled mobile devices; or scan a driver's QR code to pay through the passengers' O! ePay account to enjoy quick and simple Octopus payment options. ![]() |
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