Wall Street Journal: Octopus Hopes to Expand in China
Friday, April 2nd, 2010The Wall Street Journal reports on privacy questions concerning the use of a “smart,” stored-value card in China:
Over the past 12 years, Hong Kong’s ubiquitous “Octopus card” has brought cashless payment to every facet of this city’s life, allowing people to ride subways, pay phone bills and buy groceries with the wave of a small plastic card.
Now, Octopus Holdings Ltd. is spreading its tentacles around the world and into its most promising market: mainland China, where the card’s functions are being repurposed to handle everything from all-in-one bill payments to birth registration and social security. But as the amount of data stored on the card expands, concerns about privacy are growing. Read more »

