Press Release 29 November 2019
Octopus Stored Value Limit Increases to HK$3,000 to Meet Consumers' Greater Spending Needs
(Hong Kong, 29 November 2019) As part of its strenuous efforts to enhance its services to cater to its customers' changing needs, Octopus Cards Limited (OCL) is increasing the stored value limit for all Octopus to HK$3,000 effective from 1 December 2019. At the same time, customers can also make payment of up to HK$3,000 at designated Octopus merchants.
Starting from 1 December 2019, the stored value limit of all newly issued Octopus products - including On-Loan Octopus, Sold Octopus, Bank Co-Brand Octopus, Smart Octopus and Octopus Mobile SIM etc., will be HK$3,000. Any customer who possesses a Smart Octopus issued before 1 October 2019 or an Octopus product issued before 1 December 2019 can upgrade the stored value limit from HK$1,000 to HK$3,000 via Octopus App* or at any Octopus Service Point. Once the stored value limit has been upgraded, customers can also make payment of up to HK$3,000 for each transaction starting from 1 December at over 3,200 retail outlets† operated by more than 30 merchants, including 7-Eleven, Circle K, Mannings, PARKnSHOP, SOGO, Watsons and Wellcome Supermarket, and to cater for their greater spending needs. More merchants are expected to support the maximum Octopus payment amount of HK$3,000.
"From a fast electronic way to pay fares on public transport, the Octopus payment system has expanded to encompass the retail sector covering all walks of life including entertainment, bill payment, charity, online and offline," said Mr Sunny Cheung, Chief Executive Officer of OCL. "Therefore, we have increased both the stored value limit and transaction value of Octopus to meet customers' greater spending needs. However, customers have the sole discretion in deciding what amount to top up and enjoy a secure, hassle free and seamless digital payment experience while boosting Hong Kong's drive to becoming a Smart City."
* Upgrade service is currently only applicable to Android mobile device with NFC capability and Octopus with 9-digits.
† For details, please visit: https://www.octopus.com.hk/en/consumer/octopus-cards/upgrade-limit/about/index.html
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