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Octopus refers to the general electronic toll collection system in Hong Kong. It was used on September 1, 1997. It was initially used on buses, railways and other public transport vehicles, and later expanded to shops, restaurants, parking lots, etc., and was also used in some occasions. Access Card. The recharge method is extended from the initial recharge machine to the store payment office and the automatic transfer function by credit card and bank account.
Octopus Technology: Octopus uses Sony’s 13.56MHz FeliCa chip and other related technologies. The entire Octopus system was designed by Australia-based ERG Transit Systems. ERG is responsible for the design, construction, operation and maintenance of the entire system.
Octopus recharge: Almost all stores with Octopus readers can recharge Octopus. In addition, many credit card issuing banks also promote automatic recharging of Octopus, and launch a number of promotions.
Types and forms of Octopus: Since Octopus is one of the characteristics of Hong Kong, it attracts a large number of tourists, including mainland and independent tourists, to buy it as a souvenir. However, many tourists will return their Octopus cards before leaving Hong Kong. In order to cope with the huge administrative cost of returning tourists in a short period of time, since January 2004, the Octopus Company will charge users who return the cards within 3 months after purchasing the cards. HK$7 as handling fee (HK$10 for personal Octopus refunded within 5 years). The company also provides a “collector’s edition” Octopus card, which is mainly aimed at tourists and other people who want to buy it as a souvenir collection; in addition, all inbound passengers can buy Octopus for passengers at the entry and exit ports, and the handling fee can be waived when returning.
Popularity of Octopus: There are more than 14 million Octopus in circulation in Hong Kong, reaching an average of 2 Octopus per person. The number of daily transactions exceeds 8 million, and the daily transaction volume exceeds 63 million Hong Kong dollars. There are more than 300 companies accepting Octopus. , and there are more than 50,000 Octopus readers. More than 95% of Hong Kong citizens aged 12 to 65 have at least one Octopus card. At present, more than 60 primary and secondary schools in Hong Kong use Octopus cards for toll collection and roll call. And discuss with the Education and Manpower Bureau to develop the “Octopus Campus Management System”. “Octopus Campus Management System” can be used for school access control, attendance, charging, event roll call and library management services. Tai Yongmu, chief executive of Octopus Cards Limited, said that Octopus has recently entered three new markets, including laundries, printing, and roll call, enrolment courses and canteens for worship at Shatin Baptist Church.
Octopus error incident: The Octopus operating system has been in operation for about ten years, and the media have successively disclosed a number of news of wrongful fare deduction and wrong recharge, which has aroused widespread concern in the society. In 2007, some passengers found that when they used EPS to top up their Octopus, although they could not successfully top up, the Octopus still deducted the amount from the citizen’s account. The HKMA has also instructed the Octopus card company to review all relevant transactions and issue refunds to the customers concerned proactively and promptly. On July 27, 2007, the Octopus Card Company released a report, stating that since 2000, there have been 15,270 cases of wrongful deductions through EPS recharge, with a total deduction of about HK$3.7 million in excess. After investigation, the company discovered the problem. Octopus Card Company announced that it will work with EPS and banks to contact affected customers to arrange refunds, which is expected to take ten weeks. On December 21, 2007, Octopus Card Company announced that it would permanently stop EPS recharge service.
As of January 2007, a total of 14.75 million Octopus cards were in circulation in Hong Kong. The number of transactions through Octopus exceeds 10 million per day, with an annual transaction value of HK$29.3 billion. Octopus is used by over 95% of Hong Kong citizens aged between 16 and 65. There are more than 50,000 Octopus readers in Hong Kong. Over 460 merchants across Hong Kong accept Octopus for payment. (latest source: Octopus official website) We can see two points: First, Octopus has not moved closer to the financial standard system since its inception, and formed its own system; Multifunctional card, worth thinking about.
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