Press Release

Octopus Expands Taxi Payment Network to WeChat Pay users

• Taxi in Hong Kong can now accepts WeChat Pay HK and WeChat Pay QR Code payments via Octopus mPOS
• Adding WeChat Pay to the open-loop systems provide a seamless experience for travellers and locals

(Hong Kong, 5 August, 2024) Octopus Cards Limited (Octopus) has been actively promoting the development of electronic payments to benefit the public at large, the taxi industry, and micro, small and medium-sized enterprises (MSMEs). Since Octopus has opened its network to other QR payment platforms, such as UnionPay, AlipayHK, and Alipay in January this year, digital payment usage has grown in double digit.

The number of taxi drivers who collect payments through Octopus App for Business increased significantly by 20%, from 21,000 in January to 25,000. Today, Octopus announced to further open up the Octopus’s taxi payment network and partner with WeChat Pay HK (HKD wallet) and WeChat Pay (RMB wallet) to provide a greater variety of payment options for the taxi drivers and passengers, including tourists, and enhance the travel experience.

Octopus usage in taxis has increased tenfold over the past 4 years
Tourists’ average daily spending increased by 30% during the Golden Week

Being the most reliable and popular leading electronic payment platform among taxi drivers, currently there are 25,000 taxi drivers collect payments through the Octopus App for Business. Over the past four years, Octopus usage in the taxi industry has witnessed a remarkable 10-fold increase. With the rising number of tourists visiting Hong Kong and the opening up of the Octopus’s taxi payment network, led to a growing demand for electronic payment platforms. During this year's Mainland Labour Day Golden Week, the average daily spending by tourists surged by a significant 30%, underscoring the robust demand for seamless, digital payment solution among tourists.

Rita Li, Octopus’s Sales and Marketing Director, said: "Octopus has always been committed to promoting the development of electronic payments. Earlier this year, we opened up our taxi payment network, and have since, partnering with WeChat Pay HK and WeChat Pay to further open up the network, adding WeChat Pay QR code payments. With the expansion of the Individual Visit Scheme to cover more cities and the government steps up hosting the world-class mega events in Hong Kong to attract more tourists and boost the economy. We believe this partnership will provide an all-in-one, diversified e-payment solution for both tourists and the taxi industry, further enhancing the convenient travel experience in the Greater Bay Area."

Daniel Hong, Vice President of Tencent Financial Technology, said: "We are thrilled to team up with Octopus to integrate WeChat Pay HK (HKD wallet) and WeChat Pay (RMB wallet) into the Octopus’s taxi payment network. This collaboration not only enriches the payment options in Hong Kong's taxi industry, but also provides local residents and mainland tourists with a more convenient payment solution, along with the peace of mind of zero handling fees. We will continue to promote the acceptance of convenient payments among Hong Kong citizens and further develop the local electronic payment ecosystem."

Freedom Li, President of Weixin Pay International Business, said: " The access to the Octopus’s taxi payment network is a manifestation of WeChat Pay’s further coverage of mainstream travel scenarios and its efforts to boost the construction of smart transportation in the Greater Bay Area. Looking ahead, WeChat Pay will persist in its efforts to drive smart transportation innovations, integrating mobile payments capabilities seamlessly with local life in the Greater Bay Area. This will bring even more convenient mobile payment and digital service experiences to mainland Chinese tourists."

With government’s mandate that all fleet taxis must accept electronic payments, Octopus is working with the fleet operators and the government to bring fast, convenient and secure Octopus payments to all passengers, locals and visitors.

Launches Referral Programme to Boost Electronic Payment Adoption among Taxi Drivers
Octopus Team provides On-site Support to Taxi Drivers in August

To further boost taxi acceptance, Octopus team will be visiting the taxi queue area at the Hong Kong International Airport from 2 pm to 6 pm on 8 and 9 August 2024. The team will be on-site to assist taxi drivers in setting up Octopus App for Business accounts.

Octopus has also launched a referral programme to onboard more taxi drivers to join the Octopus’s platform. Starting from today to 31 December 2024, drivers who successfully refer their peers to open an Octopus App for Business account will receive a $100 reward for each new referral. To qualify, the referred drivers must make at least five Octopus transactions within the first 30 days of opening an account. Drivers can earn a maximum of 10 referral rewards, up to $1,000 in total. Octopus will also give newly registered taxi drivers complimentary Octopus Mobile POS devices and waive their transaction fees.

Account set-up in three working days and get an Octopus Mobile POS for free

Merchants using either Android or iOS mobile phones can download the Octopus App for Business and upload the necessary documents via their mobile. The account can be activated within three working days upon application approval, after which they will receive the merchant kit including the Octopus Mobile POS. Upon pairing their mobile phones with the Octopus Mobile POS via the Bluetooth function, and turning on the “Cashier mode” of the Octopus App for Business, merchants can enter the transaction amount, which will be immediately displayed on the screen of the Octopus Mobile POS. Customers can just tap their Octopus onto the screen for payment.

 

Photo Caption

1. (From left) Adrian Tam, General Manager, Sales & Marketing Department, OCL, Rita Li, Sales and Marketing Director, OCL, Wayne Chen, General Manager, HK, Macau & Taiwan, Weixin Pay Cross-Border Business, Simon Chow, Head of Business Development, WeChat Pay HK together announced the further opening up of Octopus's taxi payment network and the partnership with WeChat Pay HK (HKD wallet) and WeChat Pay (RMB wallet).

2. The new measure follows Octopus' initiative in January this year to open its taxi payment network to UnionPay, AlipayHK, and Alipay. It marks another step in introducing new partners, aiming to lead the industry's push towards the development of electronic payments in the taxi industry.

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