Octopus Cards launches digital yuan top-up as tourist spending grows

Octopus Cards has launched a digital yuan (e-CNY) top-up service, enabling mainland visitors to have a seamless payment experience in the city and pay like locals.

This comes as the total Octopus spending by tourists in retail, dining, and transportation recorded HK$100 million transaction value during the Chinese New Year holiday period from 29 January to 7 February, according to Octopus Cards.

Compared to the same period last year, total tourist spending increased by over 10%, with retail spending experiencing significant growth. The number of users of Tourist Mobile Octopus (the Octopus app for tourists) increased by 80% year-on-year, reflecting the growing popularity of this convenient payment solution, according to Octopus Cards. 

Meanwhile, the demand for immersive travel experiences and cross-border payment solutions is growing. This sentiment is echoed by Hong Kong Tourism Board (HKTB)'s chief Dane Cheng, who said on a CRHK radio programme in June last year that Chinese tourists have opted for "in-depth" local experiences rather than shopping for luxurious items. 

Therefore, Octopus Cards has launched this initiative to empower mainland visitors to enjoy Hong Kong like locals, while also expanding its customer base and contributing to Hong Kong's burgeoning digital economy. This launch builds upon Octopus's ongoing efforts to enhance digital payment adoption. In February 2023, Octopus collaborated with the Bank of China Shenzhen branch to introduce the first e-CNY hard wallet self-service card issuing machine in Lo Wu.

Users can go to the Octopus App for Tourists top-up page, enter their desired amount, and select "e-CNY App" as the payment method. After confirming, they'll be redirected to their e-CNY app to complete the top-up. They can also use e-CNY for deposits and topping up when adding a new Mobile Octopus in the app.

Users can then enjoy convenient payments at nearly 190,000 Octopus acceptance points—covering transport, restaurants, entertainment, and retail—without needing to open the app or wake their phone screen. The app also lets users check their balance and top up on the go. When it's time to depart from Hong Kong, users can easily request a refund through the app.

Tim Ying, CEO of Octopus, said: "The number of Tourist Mobile Octopus reached a record high during the Chinese New Year period. Coupled with our extensive network of 190,000 Octopus acceptance points throughout Hong Kong, this allows tourists to enjoy a seamless and convenient payment experience, just like locals.”

"Octopus is at the forefront of e-CNY development and application in Hong Kong. Our focus is on creating seamless, intuitive payment experiences for Mainland visitors. Topping up their Tourist Octopus with e-CNY directly through the app is a natural extension of this commitment. This initiative aligns with our broader strategy to expand cashless payment options, including opening our taxi payment network to other QR code platforms and launching Octopus China T-Union Cards. We're dedicated to making payments effortless for our customers, whether they're in Hong Kong, Mainland China, or beyond," he added. 

Don’t miss: Octopus unveils HK$68.8m lai see giveaway to boost local economy

Back in January, Octopus launched a HK$68.8 million lai see giveaway to encourage citizens to spend locally during the Chinese New Year and support Hong Kong's shift towards becoming a cashless city.

From 27 January to the end of February, Octopus Cards is handing out HK$1.2 million red packets over 33 consecutive days, totalling HK$8.88 million, along with over HK$60 million in merchant offers. Users can receive up to HK$88 in red packet money.

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