Following this announcement, the collaboration is set to accelerate the development process of Hong Kong's digital payment ecosystem, bringing its most widely used payment experience to merchants and businesses across various sectors with optimised speed, flexibility, and efficiency.
In addition, the deal represents a part of both companies’ strategies to enable both offline and online Octopus acceptance directly via Wonder's payment terminal and digital platform. Both institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
According to the official press release, businesses will have the possibility to enable Octopus alongside other payment methods through the use of Wonder's streamlined KYC onboarding process and have all the funds settled to merchants directly via Wonder's platform. This process is set to allow merchants of any size and of any industry to onboard faster, improve the way they manage finances, and start accepting Octopus quickly and securely.
Furthermore, the partnership aims to further expand acceptance and bring a faster, more efficient, and more secure payment experience to businesses and customers in the region of Hong Kong. Through the use of the Octopus Cards Limited product, the collaboration will provide improved offline and online Octopus payment services to meet customers' diverse payment needs, as well as focus on bringing diversity and inclusion in payments to clients across all facets of life.
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