With the distribution of consumer coupons for two consecutive years, electronic payment has gradually become an indispensable part.
Octopus Company has been actively transforming in recent years. In line with the 25th anniversary of the Octopus card, it established a product department earlier this year to develop the functions of the Octopus App, including the "Easy Park" car park automatic payment function that was launched earlier. Can be automatically debited over the air.
Ye Jinsheng, director of the company's product department, predicts that new functions will be continuously explored in the future, and the "Kiyi" will be launched at the end of the year. If you keep pace with the market, you may have the opportunity to lose customers.”
▼Precious information of the first and second generation Octopus cards provided by the Octopus Company during the exclusive interview in 2021▼
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Worrying about losing customers, setting up a new product department to enhance competitiveness
Before you know it, the Octopus card has been in existence for 25 years. So far, there are more than 30 million related products in circulation, processing more than 15 million transactions every day, and more than 160,000 payment points.
However, in recent years, mobile electronic payment has become the new normal, and Octopus has also faced challenges from young rivals in recent years. Financial Secretary Paul Chan announced after the distribution of consumer coupons last year that about 70% of the public chooses Octopus, that is, the other 3 operators share the remaining 30% of the market. Accounting rate.
In order to enhance its competitiveness, Octopus keeps pace with the times. In January this year, it established a product department to concentrate resources on the development of the Octopus App, including design, development, testing, optimization, and user feedback.
Ye Jinsheng served as the director of Octopus development from 2016 to 2020, and is currently the director of the product department.
He said that new features will be continuously discovered in the future, noting that competitors are also changing: "If we don't keep pace with the market, there may be opportunities to lose customers."
In March this year, the "Easy Park" parking lot automatic payment function was launched
In fact, the functions of the Octopus App are becoming more and more abundant, and the number of downloads has exceeded 4 million times.
Citizens can collect transportation allowances through the App, and earn discounts through "Haoyidu", "Easy Rewards" and stamp schemes, etc. They can also check their consumption records in the App to add value to their family's Octopus, and even activate the mobile Octopus UnionPay card, pay with QR code anywhere in the world.
Among them, "Easy Park" is a newly launched function. Users only need to enter the license plate number into the App and link the registered Octopus card. When entering and exiting the parking lot, the card can be deducted from the air without tapping the card. , you can save money when you take a card.” This function has been launched in LOHAS Park and Kwun Tong Palace Plaza on March 24 this year, and more car parks will be involved in the future.
The development progress of "One Card" can be launched at any time
Earlier, an Octopus executive revealed that the cooperation relationship of the Mainland's "All-in-One Card" (all-in-one card interconnection in cities across the country) has been implemented. In the future, citizens can purchase an "All-in-One Card" to take public transport in the Mainland, and the exchange rate will be automatically calculated by the Octopus system.
However, the current usage of the card is limited to transportation expenses, and users can only add value to the Octopus App after crossing the border.
Ye Jinsheng revealed that the development progress of the "All-in-One Card" is already in progress and is waiting for the right time to launch.
He also emphasized that the application is not anonymous, so there is no personal information, and the data of transactions in Hong Kong will not be transmitted to the mainland, so as to protect the privacy and security of the public.
If combined with the UnionPay QR code function mentioned above, the Octopus App has covered the two major areas of retail and transportation in the Mainland.
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25th Anniversary No Celebrations Will Push the "Proud" Function
At present, there are many types of e-wallets on the market. Among them, Alipay was established 19 years ago and is popular in the mainland (Alipay HK entered Hong Kong in 2017). Hong Kong is far behind the mainland.
Octopus, a local ginger, did not launch its first App until 2012.
Ye Jinsheng believes that in 2016, the HKMA issued a license for stored value payment instruments, saying that everyone is starting from the same starting point.
When asked how to enhance competitiveness, he said, "We don't have any particular concerns about a competitor."
He said frankly that Octopus has undoubtedly been integrated into the lives of Hong Kong people.
However, the epidemic is still raging, and Octopus is celebrating its 25th anniversary, but there are no plans to hold a large-scale celebration, but he warned: "We may have a proud launch." As for the "proud", he did not want to disclose .
▼Octopus "Non-Eligible Spending" Inquiry▼
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Consumption coupons｜240,000 Octopus users in the first week of the second round of issuance have exhausted 2,000 yuan and "make a convex" coupons｜The first issue of Octopus has a fraction of $1,000, and you can tap the card to receive coupons today. Octopus pushes the simple app to check Eligible consumption record 11.30 If you have enough, you can get the final consumption coupons︱Octopus coupons will be shot in the early morning.