Hong Kong's Octopus raises daily limit as competition intensifies
Hong Kong's Octopus mobile payment app O! ePay has increased the maximum amount that can be transferred using the basic version of the app from HKD$3,000 ($387) every two days to HK$3,000 a day. After the company secured one of the city's first licences for stored-value mobile payment facilities in August, competition between the 13 providers, including WeChat Pay and Alipay Wallet, is expected to intensify.

Sunny Cheung, chief executive of Octopus Cards, with the new version of the O! ePay app. Photo: Dickson Lee