Octopus extends its reach

The Octopus smart card is a force to be reckoned with. But its success relies on stringent and effective cash management procedures.

Everyone in Hong Kong knows the Octopus card. That clever little piece of plastic that stops commuters on the public transport system from fumbling for change. They don't even need to get it out of their wallet. If the card is positioned correctly, one quick swipe with a wallet or bag and voila - they're through to catch that train.

There are 6.4 million Octopus cards on issue. That's a staggering amount, considering that HSBC and Standard Chartered have each issued just over 1 million credit cards in Hong Kong.

The company behind the contactless smart card is Creative Star Limited CSL, which was granted a deposit-taking licence by the Hong...

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