Visa launches campaign to transform transport in Hong Kong beginning with digital payments in taxi
• Visa’s partnership with DiDi aims to reduce payment friction and accelerate cashless acceptance across taxis; Promotion includes instant discount of HK$100* per ride encompassing Visa Preferred Free Taxi Ride Day on May 4
• When considering cashless taxi payment, respondents value security (44 percent) as top priority, according to YouGov survey
Visa, the world’s leader in digital payments, launches campaign to improve transport payment experiences for commuters in Hong Kong through collaboration with global mobile transportation platform DiDi. This partnership with DiDi in Hong Kong allows Visa account holders to pay for taxi rides in a fast, secure and frictionless way.
In a recent survey conducted by YouGov1, 97 percent of Hong Kong commuters said they have faced problems paying with cash, the dominant payment method, in taxis. Many experienced problems with only having large banknotes (62 percent), drivers having no change (46 percent), and not carrying enough cash (45 percent). When considering cashless options for taxi payment, respondents seek security (44 percent) and convenience (25 percent).
Caroline Ada, Visa General Manager, Hong Kong and Macau, said: “At Visa, we see the growing need for digital payments across all forms of transportation. As more people live in cities, there is a seismic shift in people’s attitudes towards how they get around. Many opt for sharing over ownership, and look at transportation not as a product, but a service and an experience. In Hong Kong, taxi drivers play a key role in enabling choice, convenience and security in digital payments for transport.”
The Visa-DiDi collaboration provides taxi drivers and commuters with simpler, more convenient and secure payments, backed by two global leaders in their respective fields. Visa account holders can now enjoy ordering and paying for their taxi rides entirely through DiDi app, which offers one of the widest taxi coverages in the world. In Hong Kong, DiDi has over 20,000 registered taxi drivers. Visa operates VisaNet2, one of the world’s largest retail electronic payments networks3, which comes built-in with multilayer security.
Lin Li, DiDi’s General Manager of North Asia, said: “We are deeply encouraged by the substantial increase in credit card transactions on our platform since the beta launch of our digital payments system at the end of March in Hong Kong. Joining forces with Visa, we are dedicated to cultivate digital payment usage among our community of drivers and passengers, helping to redefine the Hong Kong taxi industry along the way.”
Visa Preferred Free Taxi Ride Day
Visa cardholders can enjoy the DiDi promotion from April 20, 2018 for three consecutive Fridays, with May 4 being the “Visa Preferred Free Taxi Ride Day”. On “Free Taxi Ride Day”, passengers can enjoy HK$100 taxi fare discount per ride, up to two discounted rides per day, totaling HK$200.
“This Visa-DiDi collaboration echoes our global strategy in driving cashless and frictionless journeys worldwide. Digital payments empower taxi drivers to be in control of their finances: getting paid efficiently, removing the worries of cash management, and facilitating more businesses. This, in turn, will help in the overall quality of the travel journey,” added Ms. Ada.
For decades, Visa, together with its partners, has consistently invested in driving digital payments for global commuters. To date, Hong Kong commuters can pay with Visa at tollways, as well as taxis around the city. In the following stages, consumer education, along with close engagement with transport operators and government partners, will be instrumental in bringing the benefits of digital payments to the city. In February, Visa launched the Transportation Center of Excellence in London. The center brings together the power and scope of Visa in innovation, security, and its global network of experts in Innovation Centers all across the globe.
*Terms and conditions apply.
1 The survey was conducted by YouGov on behalf of Visa in the period between 28 - 31 March 2018 in Hong Kong; 1,068 respondents participated in the survey.
2 VisaNet processes more than US$9.5 trillion worth of transaction a year as of Mar 31, 2017.
3 Based on payments volume, total volume, number of transactions and number of cards in circulation.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network—enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews.