US-based digital payments provider Checkout.com has announced a strategic agreement with Octopus to provide the latter’s services as an online payment method for merchants. Through this partnership, Checkout.com is set to enable online payment for customers of Octopus, with the company being among the first global payment service providers (PSPs) to add Octopus as a payment option at checkout.

After being initially introduced as a contactless card for multimodal transportation, Octopus evolved into a payment system now leveraged for shopping, retail, and food and beverage transactions in Hong Kong and abroad. Focusing on staying competitive in a market where digital payments are increasingly expected, Octopus has an ecosystem of partners, with the company aiming to drive mobile payment adoption in the region and expand interoperable payments in Mainland China and internationally. Checkout.com and Octopus’ online payment system By moving forward with this integration, Checkout.com is set to enable merchants targeting Hong Kong residents to provide simplified, tech-focused payment experiences that meet the evolving needs and expectations of consumers. Additionally, the partnership aims to allow Octopus to become more accessible to merchants looking for a secure and efficient digital checkout experience, while also improving their payment performance.

As part of their collaboration, Checkout.com’s offering is set to include the integration of Octopus’ online payment solutions via the latter’s mobile app. Furthermore, when commenting on the announcement, representatives from Checkout.com underlined that the partnership with Octopus highlights their company’s commitment to expanding and investing in its Asian footprint, providing localised payment solutions that support merchants in scaling their operations in the region. At the same time, officials from Octopus mentioned that their firm projects increased demand from global and local businesses wanting to gain access to Hong Kong’s consumers. Also, the collaboration intends to centre its efforts around growing the city’s digital commerce.

New payment solutions from Checkout.com In addition to releasing Flow in May 2024, the company launched a feature called Remember Me, which allows shoppers to save their card once and be immediately available for use across the entire Checkout Network. Also, Checkout.com’s Standalone Vault was set to enable users to securely store, manage, and retrieve all their transaction payment data in one centralised vault. Among the last of the company’s solutions was the Checkout Business Account capabilities, centring around optimising cash flow across the firm’s suite of products.

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