Octopus Cards Limited is a wholly owned subsidiary of Octopus Holdings Limited. Established in 1994 under the name of "Creative Star" by the major transportation companies in Hong Kong, Octopus Cards Limited is the operator of the Octopus System and the issuer of Octopus.
The Octopus card was introduced in 1997 with the aim of providing a simple way to pay fares on public transport in Hong Kong. Octopus then extended its reach into simple micropayments for purchases in retail outlets and a simple way for cardholders to gain access to buildings and schools and to identify themselves. In January 2002, it was renamed Octopus Cards Limited from Creative Star. Prompted by the business expansion of the Octopus card, Octopus Holdings Limited was formed in 2005 after a company restructure and Octopus Cards Limited became a wholly owned subsidiary of the new company. Today, over 440 service providers accept Octopus, and new uses are regularly being added.
Octopus has a global reputation, and is currently the world's leading and most extensive contactless smartcard system, with the highest penetration, the highest transaction volume and the widest scope of applications.
Controversy over use of personal data
Octopus became the centre of a controversy in mid... Read More