PayPal and Octopus Announce Collaboration to Drive E-Commerce Adoption in Hong Kong

Collaboration between two major digital payment leaders to facilitate customers shopping at 19 million e-commerce sites globally by easy top-up of PayPal accounts with Octopus O! ePay

26 June 2018, Hong Kong – PayPal Hong Kong Limited (PayPal) and Octopus Cards Limited (OCL) today announced the launch of a mobile top-up service to provide Hong Kong online shoppers with a seamless global e-commerce experience.

The collaboration between the two major digital payment leaders is connecting Octopus O! ePay users to PayPal's global network of 19 million of merchants. It represents a major milestone in the shared mission of both companies in driving financial inclusion and e-commerce adoption in the city since customers now have broader top-up facilities other than credit cards or bank accounts.

"Our innovative collaboration with OCL, Hong Kong's leading contactless smart card payment player, reinforces our commitment to providing customers around the world with simpler and more secure payment experiences," said William Ip, Director, Large Enterprise and Marketplace, PayPal Hong Kong, Korea and Taiwan. "We are excited to bring the Octopus O! ePay and PayPal joint services to the Hong Kong market, which allows millions of consumers to more fully participate in the global digital economy."

"We are thrilled to partner with PayPal to enable Octopus O! ePay Plus and Pro customers to top up their PayPal accounts and shop online at any of the millions of local and international merchants in PayPal's network, thereby allowing Hong Kong consumers to enjoy more convenient and secure international shopping experiences," said Sunny Cheung, Chief Executive Officer of OCL.

The collaboration comes at a time when global digital payments are expected to continue to grow by an average of 10.9% in the next two years . As Hong Kong's e-commerce market is projected to reach US$5.8 billion (HK$45.2 billion) by 2022 , consumers will increasingly demand a more seamless and more convenient digital payment experience.

Bringing an even more delightful experience to consumers who link their Octopus O! ePay accounts with their PayPal accounts, PayPal and OCL will offer a HK$50 rebate to consumers who top up HK$200 or above from their Octopus O! ePay Plus or Pro accounts to their PayPal accounts through the Octopus App in a single transaction. The offer is valid from 26 June to 31 July 2018 and is limited to the first 5,000 eligible Octopus O! ePay customers who complete the said top up.

For more information about the new top-up service and the promotion terms and conditions, please visit https://www.paypal.com/hk/webapps/mpp/octopus or www.octopus.com.hk/paypal

 

Photo Caption

William Ip, Director, Large Enterprise and Marketplace, PayPal Hong Kong, Korea and Taiwan (Right), and Sunny Cheung, Chief Executive Officer, Octopus Cards Limited (Left), jointly announce the launch of a mobile top-up service to provide Hong Kong online shoppers with a seamless e-commerce experience.

 

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