The number of mass transit "Octopus" contactless fare cards in circulation in Hong Kong passed 8.2 million this spring, according to press reportsan astounding feat in an area with a total population of just over seven million.
The Octopus provides access to the citys metro, bus lines, tramway, commuter rail, and ferries, but it is also rapidly turning into a widely used electronic purse accepted by some retailers, convenience stores, fast food outlets, and public telephones, with a daily float in the range of $250 million to $350 million. This benefits Hong Kongs Mass Transit Railway Corporation, as the MTR holds a controlling interest in the joint venture.
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