According to the company, around 95 percent of people in Hong Kong between the ages of 16-65 have an Octopus card, and their transactions add up to about 18 million dollars every day. But what's new about Octopus is that recent advances in technology mean that it's being used with phones too. "Now with the advance of smart card technology, we've been able to embed the Octopus mobile SIM inside a smartphone," explained Octopus CEO Kevin Goldmintz, in an interview with CNN's Kristie Lu Stout.