Hong Kong’s Octopus to launch payment card for mainland Chinese public transport as pressure from Alipay, WeChat Pay mounts at home

Apr 18, 2021 | INVESTING

Octopus Holdings, Hong Kong’s home-grown cashless payment operator, will soon launch a new transit card that works in more than 300 cities in mainland China as its business at home faces growing pressure from digital payment rivals such as Alipay and WeChat Pay.Under the offshore expansion plan, users of the Octopus transit card will be able to pay for public transport on buses, in taxis, and in rail transit to ferries in mainland China by the end of this year or early next year, according to…

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