Digital payments provider Checkout.com has become the first payment service provider (PSP) to add Octopus, Hong Kong’s first homegrown global fintech, as a payment option at checkout.
Through the new collaboration, Checkout.com will make Octopus more accessible to merchants, as well as enhancing their payment performance. Checkout.com’s offering includes the integration of Octopus’s online payment solutions through the Octopus mobile app.
Octopus, the dominant payment experience in Hong Kong, boasts an impressive 98 per cent penetration among the city’s 7.5 million residents. Initially introduced as the world’s first contactless card for multimodal transportation in 1997, Octopus has evolved into a versatile payment system, now widely used for retail, shopping, and food and beverage transactions at home and abroad.
Edwin Lai, head of business development and international business at Octopus, commented: “At Octopus, we pride ourselves for making everyday life easier. This partnership with Checkout.com will enhance and broaden the payment experience not just for our customers, but also merchants within Hong Kong and beyond. We anticipate robust demand from global and local businesses eager to access Hong Kong’s consumers. We hope this collaboration will help support the growth of the city’s digital commerce.”
In a strategic move to stay competitive in a market where digital-first payments are increasingly expected, Octopus has been driving the shift toward digital payments in Hong Kong. Since launching its mobile app in 2012, there are now over 4.5 million Octopus wallets.
Alongside ecosystem partners, Octopus continues to drive mobile payment adoption in Hong Kong, as well as the expansion of interoperable payments in Mainland China and overseas.
Brian Sze, general manager of APAC at Checkout.com, also said: “Catering to local payment preferences is crucial for success in the Hong Kong market. Our strategic partnership with Octopus underscores Checkout.com’s commitment to investing in our Asia footprint, delivering localised payment solutions that empower merchants to thrive in this dynamic region.”
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