Global commerce enabler Shopline announced on 10th May, a partnership with Octopus Cards Limited (Octopus) to introduce Octopus as the platform’s latest payment method. The new payment method supports merchants with an additional payment option on top of the existing portfolio in order to capture business opportunities from Hong Kong’s new round of Consumption Voucher Scheme.
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According to the latest “Shopline Hong Kong eCommerce Whitepaper 2022”, 37 percent of consumers have used stored value facilities (SVFs) for payment when purchasing from Shopline Hong Kong merchants in 2021, with a growth of 3 percent YoY, overtaking previously popular payment methods like credit card (21 percent) and bank transfers (13 percent). The shift of preference reflects that consumers are more intent on using stored value facilities as their priority. Shopline is committed to exploring new partnerships to help merchants stay on top of eCommerce trends and in turn enhancing consumer’s online shopping experience. From 10th May, 2022, Shopline will accept Octopus as a payment method and Shopline merchants are able to connect to the Octopus payment interface after successfully creating an account through the Octopus App for Business.
“We are delighted to partner with Octopus to provide merchants and customers a seamless online shopping experience. As Asia’s leading smart-commerce platform, Shopline is committed to providing the most comprehensive one-stop eCommerce solution. The Octopus payment method is extremely user-friendly, allowing you to seal the deal with just one tap. The new payment method will also help to increase the order conversion rate.” said Nick Gao, General Manager, Shopline Hong Kong.
“According to Shopline’s data, the number of consumers using consumption vouchers for payment increased by up to five times YoY from August to October 2021, the period during which the voucher was released. The new round of the Consumption Voucher Scheme has increased the total voucher value to HK$10,000 and merchants are encouraged to set up an Octopus Business Account in order to capture the important business opportunities from the scheme,” Gao added.
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“Being a safe, efficient, flexible and reliable payment method, Octopus boasts a 98 percent penetration rate amongst Hong Kong’s population. We expect the partnership with Shopline to further promote the convenience of Octopus in online shopping, turning Octopus into the most-used online payment method in Hong Kong.,” said Rita Li, Sales and Marketing Director, Octopus Cards Limited.