Contactless Smart Cards, RFID, Payment, Transit and Security

Citibank, Octopus combine for Hong Kong all-in-one card

Friday, July 18, 2008

Citibank and Octopus Cards Limited plan to launch a new co-branded card, the Octopus Citibank Credit Card, the first in the market to have Octopus functionality. The new card will include not only credit and contactless smart card payment functions, but also will offer Citibank’s cash back in addition to the existing Octopus Rewards scheme.

Customers can use the Octopus function for small-value payments at more than 50,000 locations in both retail and transport, and the credit card for high-ticket purchases. It also will feature automatic reload capabilities for Octopus. In addition, cardholders can earn cash rebates through their credit card spending which will be credited for their Octopus usage.

“For the first time, customers can enjoy a 2-in-1 card with unprecedented convenience and benefits,” added Prudence Chan, Octopus Cards Limited’s CEO.

Online pre-registration for Octopus Citibank Credit Card will be accepted from July 17 to Aug. 15. HK$50 Octopus Cash will be offered to successful registered customers. [end] 

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