Samsung Pay Extends Through Many Arms of Hong Kong’s Octopus
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A big new partnership could help to dramatically extend Samsung Pay’s presence in Hong Kong: Samsung has teamed up with Octopus to enable its ubiquitous Octopus Cards in its mobile payments platform.
The Octopus Card is essentially a reloadable electronic payment card, but what makes it special is its extensive reach throughout Hong Kong society. In addition to being a popular payment method at a range of retail stores and restaurants, the Octopus Card can also be used at vending machines and pay parking meters, on public transportation, at tunnel tolls, and even for access control in buildings. There’s even a whole page about it on Hong Kong’s official tourism website.
As such, its integration into Samsung Pay represents a big win for Samsung in Hong Kong. Dubbed ‘Smart Octopus’, a virtual Octopus Card will be available to Samsung Pay users, and consumers will also be able to transfer their current Octopus Cards into the app. Summing up the partnership’s prospects in a statement, Samsung Electronics H.K. Co. Head of IT and Mobile Communication Business Yiyin Zhao asserted, “Together with Octopus, the go-to payment method for most transportation operators and retail stores, Samsung hopes to bring a revolutionary smart mobile payment service to Hong Kong.”
It’s a win for Octopus, too, with CEO Sunny Cheung pointing out that the Samsung Pay partnership “represents a significant milestone for Octopus to introduce NFC payment via smartphones, offering our customers a fast, simple and seamless over-the-air mobile payment solution.”
Smart Octopus will go live at 9:00 a.m. on December 14th, and will be supported wherever the Octopus Card is accepted.
Questions & Answers
How will existing Octopus Card users be able to use this new feature?
Consumers will have the option to transfer their current physical Octopus Cards directly into the Samsung Pay app. This allows them to continue using their existing payment method but now in a digital format.
When will this new 'Smart Octopus' service become available to users?
The new Smart Octopus service is scheduled to go live and be available for use starting at 9:00 a.m. On December 14th. It will then be supported wherever regular Octopus Cards are accepted.
What is the primary benefit for Octopus in partnering with Samsung Pay?
The partnership offers a significant milestone for Octopus by introducing NFC payment via smartphones. This provides their customers with a fast, simple, and smooth over-the-air mobile payment solution.