Octopus Cards Ltd.
Encyclopedia : O : OC : OCT : Octopus Cards Ltd.
- :This article is about the operator of the namesake card. For the card of the same name, see Octopus card.
Octopus Cards Limited (traditional Chinese: 八達通卡有限公司) is the operator of the
Octopus rechargeable contactless
smart card used in an electronic payment system in Hong Kong.
The company was founded in
1993 as a non-profit joint venture between Hong Kong's major transport operators, and was initially known as
Creative Star Limited.
The company later became both a profit making venture and a regulated third tier financial institution (a special purpose Deposit Taking Institution) regulated by the
Hong Kong Monetary Authority. The company is authorised to issue general purpose stored value cards that are now extensively used on transport and also in vending, low value retail payments, schools, door access etc.
At the end of 2005 the original Octopus company resturctured and become a group of companies under Octopus Holdings Limited, of which Octopus Cards Limited is one of the 100% owned subsidiaries.
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