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Checkout.com launches Octopus in Hong Kong for online payments

By Gloria Mathias

October 10, 2024

  • APAC Fintech
  • APAC news
  • APAC Technology
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Checkout.com,Checkout.com, Payment Processing, Cloud-based payments, FinTech, Flow, Europe, Checkout Solutions, Octopus, Fintech Solutions, Global Payments Systems, Hong Kong, APAC News, APAC Technology, APAC Fintech, a digital payments provider, has announced a partnership with Octopus, Hong Kong’s homegrown global FinTech. This will enable online payment for Hong Kong customers, making Checkout.com the first global payment service provider (PSP) to add Octopus as a payment option at checkout.

Initially introduced in 1997 as a contactless card for multimodal transportation, Octopus has evolved into a versatile payment system and is widely used for retail, shopping, and food and beverage transactions at home and abroad.

In a move to stay competitive in a market where digital-first payments are increasingly expected, Octopus has been driving the shift toward digital payments in Hong Kong. Since launching its mobile app in 2012, there are now more than 4.5 million Octopus wallets. With its ecosystem partners, the company continues to drive mobile payment adoption in Hong Kong and the expansion of interoperable payments in Mainland China and overseas.

Through this integration, Checkout.com empowers merchants targeting Hong Kong residents to offer a seamless, tech-forward payment experience that meets the evolving expectations of consumers.

The collaboration will make Octopus more accessible to merchants seeking a secure, efficient digital checkout experience while also enhancing merchants’ payment performance. Checkout.com’s offering includes the integration of Octopus’s online payment solutions through the Octopus mobile app.

Brian Sze, General Manager, APAC at Checkout.com, said, “Catering to local payment preferences is crucial for success in the Hong Kong market. Our strategic partnership with Octopus underscores Checkout.com’s commitment to investing in our Asia footprint, delivering localised payment solutions that empower merchants to thrive in this dynamic region.”

Edwin Lai, Head of Business Development and International Business at Octopus, said, “At Octopus, we pride ourselves on making everyday life easier. This partnership with Checkout.com will enhance and broaden the payment experience not just for our customers but also for merchants within Hong Kong and beyond. We anticipate robust demand from global and local businesses eager to access Hong Kong’s consumers. We hope this collaboration will help support the growth of the city’s digital commerce.”

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