The Octopus card is a rechargeable contactless stored value smart card used to transfer electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, the Octopus card system is the second contactless smart card system in the world, after Upass, and has since grown into a widely used payment system for virtually all public transport in Hong Kong, leading to the development of Oyster Card in London.
The Octopus is also used for payment at convenience stores, supermarkets, fast-food restaurants, on-street parking meters, car parks, and other point-of-sale applications such as service stations and vending machines.
The Octopus card is recognised internationally, winning the Chairman's Award of the World Information Technology and Services Alliance's 2006 Global IT Excellence Award for being the world's leading complex automatic fare collection and contactless smartcard payment system, and for its innovative use of technologies. According to Octopus Cards Limited, operator of the Octopus card system, there are more than 20 million cards in circulation, nearly three times the population of Hong Kong. The cards are used by 95% of the population of Hong Kong aged 16 to 65, generating over 11 million daily transactions worth a total over HK$100 million (US$12.8 million).
The slogan of Octopus Card Limited and its products (the cards) is Making Everyday Life Easier, which is part of the mission statement of the corporation.
Read more about Octopus Card: History, Etymologies and Logo, Types of Cards, Card Usage, Technology, Operator, Taxis, Alternative Designs, Outside Hong Kong, EPS Add-value Glitch, Privacy Abuse
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