The Octopus system was quickly adopted by other Creative Star joint venture partners, and KMB reported that by 2000, most bus journeys were completed using an Octopus card, with few coins used. With the transfer of Hong Kong away from British rule, there was a belief that the older Queen's Head coins in Hong Kong would rise in value, so many people hoarded these older coins and waited for their value to increase. Another reason was the coin shortage in Hong Kong in 1997. The quick success of the system was driven by the fact that MTR and KCR required all holders of Common Stored Value Tickets to replace their tickets with Octopus cards within three months or have their tickets made obsolete. Three million cards were issued within the first three months of the system's launch. Īfter three years of trials, the Octopus card was launched on 1 September 1997. To gain wider acceptance, it partnered with four other major transit companies in Hong Kong to create a joint-venture business to operate the Octopus system in 1994, then known as Creative Star Limited. The MTR Corporation eventually decided to adopt more advanced technologies, and in 1993 announced that it would move towards using contactless smartcards. In 1989, the Common Stored Value Ticket system was extended to Kowloon Motor Bus (KMB) buses providing a feeder service to MTR and KCR stations and to Citybus, and was also extended to a limited number of non-transport applications, such as payments at photobooths and for fast food vouchers. Another of the territory's railway networks, the Kowloon-Canton Railway (KCR), adopted the same magnetic cards in 1984, and the stored value version was renamed Common Stored Value Ticket. Prior to the Octopus card, Hong Kong's Mass Transit Railway (MTR) adopted a system to recirculate magnetic plastic cards as fare tickets when it started operations in 1979. 3.2 Balance enquiries, reloading and refunds.The system handles more than 15 million transactions, worth over HK$220 million, on a daily basis. The cards are used by 98 per cent of the population of Hong Kong aged 15 to 64. According to Octopus Cards Limited, operator of the Octopus card system, there are more than 36 million cards in circulation, nearly five times the population of Hong Kong. The Octopus card won the Chairman's Award of the World Information Technology and Services Alliance's 2006 Global IT Excellence Award for, among other things, being the world's leading complex automatic fare collection and contactless smartcard payment system.
The cards are also commonly used for non-payment purposes, such as school attendance and access control for office buildings and housing estates. Other common Octopus payment applications include parking meters, car parks, petrol stations, vending machines, fee payment at public libraries and swimming pools and more. The Octopus card has also grown to be used for payment in many retail shops in Hong Kong, including most convenience stores, supermarkets and fast food restaurants. Launched in September 1997 to collect fares for the territory's mass transit system, the Octopus card system is the second contactless smart card system in the world, after the Korean Upass, and has since grown into a widely used payment system for all public transport in Hong Kong, leading to the development of Navigo card in Paris, Oyster Card in London, Opal Card in New South Wales, NETS FlashPay and EZ-Link in Singapore and many other similar systems around the world.
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The Octopus card is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong.
Convenience stores, Supermarkets, Fast-food restaurants.Star Ferry, New World First Ferry, Coral Sea Ferry, Hongkong and Yaumati Ferry, Fortune Ferry.Citybus, Kowloon Motor Bus, Long Win Bus, New Lantao Bus, New World First Bus.