Chief Executive Officer,
Octopus Holdings Limited
Mr Sunny Cheung re-joined as Chief Executive Officer of the Octopus group of companies effective 2 January 2015. He had been the Chief Executive Officer of the Company since January 2011 until his retirement in March 2014.
Mr Cheung has over 40 years’ experience in retail banking and payments. Prior to joining Octopus Group in 2011, he was the Country Manager of Visa International for Hong Kong and Macau.
He also held senior management positions with several financial institutions, including Managing Director and Head of Greater China Consumer Banking at DBS, General Manager of Consumer Banking at Dao Heng Bank and General Manager of Citibank card business in Hong Kong.
Launched in 1997, the Octopus system in Hong Kong is one of the world’s leading and most extensively accepted contactless smartcard payment systems. It is used by over 8,800 service providers with over 76,000 Octopus readers deployed in the market across different businesses including public transport, parking, retail, vending machines and kiosks, schools and leisure facilities, and access control for residential and commercial buildings. Service providers and Octopus holders embrace Octopus for both its simplicity and its convenience. The Octopus system has also been extended to other innovative service arenas with wider coverage through the provision of both online and offline payment services including Person-to-Person, mobile and online payment services such as the Octopus O! ePay, “Octopus” App and the Octopus Mobile SIM. Today, more than 33 million Octopus are in circulation, and the Octopus system handles over 14 million transactions with transaction value exceeding HK$186 million a day. In recent years, the Octopus Group has been exporting its unique experience and technology overseas, offering consultancy services across the world.