YeahPay and Octopus Announce Strategic Partnership to Expand Digital Payments in Hong Kong

YeahPay and Octopus Forge Strategic Partnership

Recently, YeahPay, a prominent payment brand affiliated with the Hong Kong-listed firm YEAHKA, announced a critical alliance with Octopus Cards Limited. This partnership aims to expedite the enhancement of Hong Kong's digital payment ecosystem. With this collaboration, merchants utilizing YeahPay can now accept payments via Octopus, significantly broadening their payment service framework. This new agreement is expected to provide merchants in multiple sectors with improved flexibility, diversity, and operational efficiency.

As one of the leading electronic payment platforms in Hong Kong, Octopus boasts over 20 million cards and products in circulation, achieving a staggering market penetration rate of 98%. In addition, it features more than 190,000 acceptance points scattered throughout the region. From transportation to retail and access management for both residential buildings and schools, Octopus has embedded itself within the daily fabric of life in Hong Kong.

YeahPay, which emerged as YEAHKA's cross-border payment brand in 2023, has forged a robust payment network built upon years of industry prowess. According to YEAHKA’s financial reports for 2024, its app-driven payment service reached an impressive peak daily transaction volume of nearly 60 million. The company has formed integral partnerships with over 6,000 SaaS providers and collaborated with approximately 160 acquiring banks to extend its market presence through 17,000 independent sales organizations located regionally.

Additionally, YEAHKA maintains affiliations with notable global payment networks, allowing for the acceptance of all major card types both domestically and internationally. This alignment not only amplifies the reach of its global payment network but also heightens the quality of service provided.

Hong Kong holds strategic significance for YEAHKA’s global business trajectory, reinforcing its role as a vital headquarters for international development as well as a testing ground for global business models.

In this regard, YEAHKA is set to intensify its focus on delivering enhanced services to Hong Kong merchants while advancing collaborations with various institutions. By fostering high-quality service and continuous innovation, the company aspires to deliver efficient, convenient, and secure payment solutions. Its commitment goes beyond transactions, as it endeavors to introduce multi-layered smart service products for businesses across diverse sectors, including tools for merchant intelligence, targeted marketing options, and artificial intelligence enhancements.

This partnership between YeahPay and Octopus is poised to catalyze a new phase in the evolution of payments in Hong Kong, benefitting businesses and consumers alike. It represents a step forward in creating a more integrated and user-friendly digital payment landscape, essential for future growth in an increasingly cashless society. Through this alliance, both companies are gearing up to redefine the standards of efficiency and accessibility in payment solutions within the region.