Octopus needs to review its overall strategy

Hongkongers now have various ways to pay for goods and services — cash, credit card or Octopus card. But when they shop online at Alibaba’s Taobao or Tmall, they prefer to use the Alipay mobile wallet because it is deeply integrated with the e-commerce platform.

AlipayHK aims to be one of the city’s leading mobile payment platforms, and it is rapidly expanding its coverage from shops and restaurants to public transport systems such as minibuses and the MTR.