Octopus Cards Limited today launched a new feature to enhance the Octopus App for Business, allowing merchants to accept Octopus card payment through their NFC mobile devices.
Users of all Octopus cards and products (including Smart Octopus in Samsung Pay) can simply tap on the merchants' NFC mobile devices - which can now serve as Octopus readers for easy payments.
In collaboration with the Coalition of Hong Kong Newspaper and Magazine Merchants, the new feature will be introduced in the coming months to around 400 newspaper stalls in Hong Kong, commencing in Mong Kok. Existing Octopus App for Business merchants, as well as other businesses and trades in the city can also make use of this new feature for broader consumer coverage.
The Octopus App for Business is designed to provide a cost-efficient mobile payment solution, to encourage normally cash-based merchants to accept digital payments. Through this easily operable enhanced feature in addition to the recently introduced Octopus App O! ePay QR code payment, merchants can now reach out to more than 34.5 million Octopus card and O! ePay users in Hong Kong.
From now on, consumers simply need to tap their Octopus cards and products (including Smart Octopus in Samsung Pay) onto the merchants' NFC mobile devices, or scan the merchant QR code displayed at the stores to enjoy a quick and simple payment option.
"We are always looking to providing inclusive, secure, easy-to-use and customer-centric payment solutions with choices, benefitting different businesses and all walks of life," said Mr Sunny Cheung, CEO of Octopus Cards Limited. "The new Octopus card acceptance feature in the Octopus App for Business will make payment handling much quicker, easier and more economical than before for these merchants, helping them to gain more business opportunities as well. We hope this new feature will create more value for cash-oriented merchants like the newspaper stalls."
Mr Sair-ching Liu, Chairman of the Coalition of Hong Kong Newspaper and Magazine Merchants said at the launch ceremony that, "Selling newspapers used to be a cash only, traditional industry. It needs to change its way to conduct business in order to survive. Consumers are now looking for convenient ways to make purchases. By introducing the Octopus payment services via card or QR code through the Octopus App for Business at newspaper stalls, we are helping the industry to advance and keep up with the times. Especially as Octopus is adopted by all walks of life in Hong Kong, we believe this will be a meaningful move for street stalls."
Interested merchants can simply download the Octopus App for Business for free, then sign up for a Business O! ePay account by following the simple instructions in the App. They can then receive payment through tapping consumers' Octopus cards and products (including Smart Octopus in Samsung Pay) on an NFC mobile device or ask customers to pay by scanning an O! ePay QR code.
From now till 29 June 2018, merchants who successfully sign up for a Business O! ePay account can enjoy a waiver of first 12 months' Bank Account Fund Transfer Fee. There is no installation fee or setup fee for a Business O! ePay account. Merchants can receive real-time transaction updates via the App, to ensure accuracy.