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Author: Octopussy yesterday when I was young. |
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Date Posted: 06:08:06 02/05/03 Wed Octopussy Yesterday when I was young ----------------------------------------------------------- Analysis on the Success of OctopusAnalysis on the Success of Octopus Future ApplicationsFuture ApplicationsCombination of ID smartcard and OctopusCombination ----------------------------------------------------------- Octopus Card To Extend Into Retail Payment European Card Review Jan 30 2003 : Octopus, Hong Kong’s contactless mass transit card, has “applied for a limited banking license” and aims “to put [its] chip on [the banks’] debit or credit cards some time this year”, says CEO, Eric Tai. The firm would have deployed its payment infrastructure in other sectors before now, but this move delayed by the need to re-engineer Sony’s Octopus cards, whose contactless aerial cracks when the card is embossed, according to the ECR. Octopus, which covers Hong Kong’s buses, ferries, metro and trains, is soon to extend into taxis with a view to increasing its profits. Retail transactions on Octopus cards average HKD 20 (€2.50), and “are 5 per cent of value at present”, Tai says, but the aim is “to move that up to 10 per cent” by end-2003. With “transit possibilities saturated in its local market, [Octopus] is looking to extend its activities into general retail payments and to offer its expertise globally”, the ECR reports. Tai, formerly a general manager at HSBC, and a board director of Mondex, also plans to promote Octopus to Visa, as a payments, access and ID program for the 2008 Olympics in Beijing, but will face stiff competition. To facilitate its global expansion, Octopus teamed with Acenture, Thales and Hong Kong’s MTRC transit firm (a part-owner of Octopus), to offer tenders in European cities like Oslo, Copenhagen and the Netherlands. The group is one of two candidates competing for a contract from the Dutch National Public Transport System, the other being Cubic, EDS and Siemens. However, Australian firm, ERG, owner of Proton World, which has some intellectual property in Octopus, anticipates “a significant debate” if Octopus sells its system “without synchronizing their plans” with ERG. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: Retail transactions on Octopus cards“are 5 per cent of value at present”, | aim is “to move that up to 10 per cent” by end-2003. | 06:12:16 02/05/03 Wed |
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