22
Nov
09

Octopus Card


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 was the first contactless smart card system in the world and has since grown into a widely used payment system for virtually all public transport in Hong Kong.

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 17 million cards in circulation, more than twice the population of Hong Kong. The cards are used by 95 percent of the population of Hong Kong aged 16 to 65, generating over 10 million daily transactions worth a total of about HK$29 billion (US$3.7 billion) a year.

Visit their official website or click here for more information.

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So what’s this blog about?

Another attempt? Well yes. Attempting to figure out another sustainable model (there are some other attempts going on parallel-ly). Well, we have a lot of questions in mind. we read up stuff, we do some research to find answers to these questions. This is an attempt to publish that little 15-20 minute research.
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