About
Octopus is Hong Kong's contactless stored-value card, launched in September 1997 as a fare card for public transport. Users preload a balance in cash or through automatic add-value from a linked credit card or bank account, then tap the card or a mobile Octopus on a reader. After a retail authorisation in April 2000, the same balance now pays shops, restaurants, building access and online merchants. The card is issued by Octopus Cards Limited, which holds a Stored Value Facilities Licence from the Hong Kong Monetary Authority; its parent, Octopus Holdings, is owned by transport operators and 64.02% held by MTR Corporation. Its transport roots and offline tap set it apart from QR wallets.
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