Citibank and Octopus Cards will together launch a new co-brand card called the Octopus Citibank Credit Card. This will be the first credit card with the Octopus smart card payment system for Hong Kong consumers.
The companies say that customers can use the Octopus function for small-value payments in both retail and transport, and the credit card feature for high-ticket purchases. Features include: automatic reload for Octopus, both credit card and Octopus functionalities for use at all merchant outlets accepting Citibank cards and/or Octopus; and no annual credit card fee. In addition, cardholders can earn cash rebates through their credit card spending which will be credited for their Octopus usage.