Making taking my money easier.

I have good memories of my Hong Kong years. Vibrant, busy, innovative city with very short people and my wallet being lighter and easier to carry. Not like now, just having accepted Euro with all those numerous coins. It was thanks to one simple card.

Octopus card is a rechargeable contactless stored value smart card used to transfer electronic payments in Hong Kong. To say it more simply it’s a card, with what you go close to a certain electronized area and the purchase/identification is made. I used it mainly for public transport, but quickly it became a secure mean for payments in supermarkets, cafes, fast food restaurants, vending machines etc. At that time I took it as a natural part of Asian developed society and enjoyed the benefits of it. Now doing some research: 95 % of Hong Kong citizens aged 16-65 are using it everyday, generating over 11 million transactions worth over 12.8 million USD a day. Wow.

A week ago Strabucks launched a free Starbucks card app for iPhone, iPod Touch and Blackberry owners. This not only enables to pay with their smartphones for the purchase, but also add money to their cards, check balance, locate stores and earn reward stars for free drinks. It works very simply, you just give your phone for a second to the cashier and she/he accesses a bar code on the screen, wipes out a scanner and hands you with your order. Easy. In the era when companies are trying their hardest to outsmart the competitors with new apps, this is actually the one that generates extra value for the Starbucks and is useful at the same time. It’s a win-win for both sides.

So now, being an Estonian and having been introduced to Mobile ID, which allows us to access our bank accounts and digitally sign documents, I believe that there is some more effort to be made. Please combine the idea form octopus card, Starbucks app and Mobile ID and give me a smartphone app, which allows me to pay with my phone, check my balance, locate businesses accepting this app and earn bonus. Estonia is very small, just like Hong Kong, so ideal for a test environment to develop systems like that. I believe that this dream comes true just like this one did as the know how and the demand excists.