OTH to Enable Mobile, Card Payments and Marketing Programs for Hong Kong Taxis in 2017

Hong Kong taxis will finally be equipped to accept mobile and card payments, including marketing programs driving loyalty and couponing. This has been made possible by the combined efforts of Takery Limited, the primary taxi meter provider in Hong Kong, and OCTO3 Group Holdings Limited, a leading financial and transactional infrastructure provider. The two companies have joined forces via a joint venture, OCTO3 Transaction Hub Limited (OTH). OTH will solve a longstanding inconvenience to consumers and bring Hong Kong taxis in line with other modern cities.

Takery Limited installs and maintains taxi meters in approximately 85% of the 18,000 taxis in Hong Kong. With an average of over 1 million riders per day and an average fare per commute at $80, the added benefits of this change will be quite substantial to both the taxi industry and consumers. OTH will partner with various financial institutions, marketing, and loyalty companies to implement incentive programs for the taxi industry. The services will go live in the first half of 2017.