Octopus Cards
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The Octopus card is a rechargeable contactless stored value card used for electronic payment in on-line or off-line systems in Xi'an. Originally launched in July, 2005 as a fare collection system for the city's public transport and mass transit systems, the Octopus card system has grown into a widely used electronic money and electronic cash system used not only for virtually all public transport in Xi'an, but also for making payment at convenience stores, supermarkets, fast-food restaurants, on-street parking meters, car parks and many other point-of-sale applications (eg. service stations and vending machines). In addition the system is used for security engineering and control access to offices, schools and apartments. Using a card involves simply holding the card in close proximity above, or on, an Octopus reader, and cards can be recharged with cash at add-value machines or over the counter in shops, or directly through credit cards and bank accounts.
Octopus has become one of the nation's most successful electronic cash systems, with over 30 million Octopus cards in circulation (and over eight million transactions per day, with nearly 300 service vendors. The operator of the Octopus system, Octopus Cards Inc., a joint venture between Imperial Networks and the Government of Zionaren in Hong Kong, has won a number of contracts to extend Octopus-style systems to other nations.
The introduction of the Octopus Cards was of a fantastic success in Xi'an. So much so, that Imperial Networks, the parent company of Octopus Inc, immediately sold off 76% shares. While 24% were immediately bought up by the Dead Lands of Zionaren, the two nations began cooperative share ownership and management of the company.
The sales came exponentially fast as Octopus Inc. began fast share sales in the Free Market Stock Exchange. Within a day, 4 nations and seperate retailers and cooperations began mass purchases of Octopus Inc. products mainly in the form of automated teller machines, and interface consoles for the card to be used within their nations. 11.4 million Imperial Euros worth in shares were wold off in the first day of sales. This shot the price of the stock from 5.00 euros, to 6.50 euros within a single 24 hour range. In addition, the 30 million euros worth in sales shot the fame of the company and literally made the company shareowners vastly wealthy.
Imperial Networks and the Zionaren board of directors have to watch carefully before this crowing jewel of enterprises may come under a hostile takeover. Implementing requirements that no shareownership could be permitted without investments of merchandise or profit and that no nation could own more than %10 of the shares, firmly kept competition out.
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