We refer to the editorial in the South China Morning Post of February 6 entitled 'Unravelling Octopus'.
Contrary to statements in that editorial, Creative Star does apologise when inconvenience is caused, and we repeat our apology to customers who cannot currently purchase an Octopus because of lack of stock.
Compared with the common stored value ticket (CSVT) cost of $1, the Octopus costs about $30. Thus a $50 deposit for the Octopus was considered necessary to cover this card cost as well as to allow for a negative value on the Octopus after the last journey. Otherwise, customers who lose cards would have to subsidise those who do not.
Creative Star undertook several surveys and determined that, generally, commuters were prepared to pay a deposit providing three conditions were met: the deposit was necessary; it was a reasonable amount; and it was refundable.
We believe all three of these conditions have been met.
The '$200,000-a-day interest windfall to Creative Star' you mention is several times the true figure.
Creative Star is non-profit making and interest earned on deposits goes to reduce fees which must be paid to Creative Star by the transport operators and, ultimately, by passengers.
