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The ubiquitous Octopus Card has been digitally integrated into the Samsung Pay network, allowing consumers to securely pay and travel by simply tapping their smartphones against an Octopus acceptance reader for payment or even door access.
Consumers will be able to easily register their credit card details with Samsung Pay, providing one more option to top up their digital Octopus cards when necessary.
It’s a major leap forward for the Octopus Card which has previously worked purely as a stored value system, and for online e-payments.
Originally designed as a contactless smart card for using public transport, the card has grown into the most popular cashless payment system in Hong Kong, accepted by convenience stores and even Starbucks. There are now more than 80,000 touch-points in Hong Kong, including stores, recreational facilities, vending machines, and self-service kiosks and more than 34.5 million active Octopus Cards and O! ePay accounts in use. Some 14.5 million transactions amounting to more than HK$200 million are made every day.
Smart Octopus in Samsung Pay uses Gemalto’s Trusted Service Hub technology to securely digitise Octopus Cards into Samsung Pay, including the transfer of the balance and any associated loyalty programs.
Sunny Cheung, CEO of Octopus Holdings, said the partnership has enabled Octopus to be among the first contactless smart card payment system operators in the world to allow customers to pay via their smartphones.
“We believe this service will resonate well with consumers seeking a payment method that is hassle-free and safe to use, providing them with more payment methods to choose from.”
“Smart Octopus in Samsung Pay delivers a convenient yet secure payment option for consumers in Hong Kong, and helps the city realise its vision of transforming into a cashless society,” said Michael Au, senior VP banking and payment in Asia with Gemalto.
Smart Octopus in Samsung Pay is currently compatible with Samsung Galaxy Note8, S8+, S8, S9, S9+, A8+ and C Pro series including C5 Pro, C7 Pro and C9 Pro models.
