- Transaction volumes of inbound travelers using Ant-supported cross-border mobile payment services grew by sixfold year-on-year
- Ant Group adds new international mobile payment partners to facilitate China travel
- American Express and Alipay to deepen partnership
Ant Group today announced the number of international visitors who have used its mobile payment services in China quadrupled over the past six months, following the launch of the International Consumer Friendly Zones program in March that has now expanded to 70 Chinese cities.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240905209405/en/
Pay Local Travel Local across Amazing China ceremony on 5 September at the INCLUSION Conference recognizes the top merchants and innovation partners in the China Payment Facilitation Partnership (Photo: Business Wire)
Speaking at the 2024 INCLUSION·Conference on the Bund, Cyril Han, President and CFO of Ant Group, said transaction volumes of inbound tourists using Ant-supported mobile payment services grew by sixfold between March and August 2024 year-on-year. This surge has created significant business opportunities for local merchants. The number of Chinese merchants regularly servicing overseas travelers through the company’s mobile payment solutions have tripled during the same period.
Since 2019, Ant Group, with the support of the People’s Bank of China, has collaborated with international card networks and overseas digital wallets to drive innovation in inbound mobile payments, a collective effort known as the China Payment Facilitation Partnership. During the 2023 Hangzhou Asian Games, Ant introduced two mobile payment solutions for international visitors, and the number of supported international payment partners has continued to grow since then.
Through Alipay+, the cross-border mobile payment and digitalization solutions operated by Ant International, international visitors can pay with their home e-wallets across China. Alipay+ now supports 13 leading e-wallets and payment apps in Asia for use across an 80-million-strong merchant network in China, an increase from 10 payment partners in 2023. Those include AlipayHK (Hong Kong SAR, China), Kaspi.kz (Kazakhstan), MPay (Macao SAR, China), Touch 'n Go eWallet (Malaysia), Hipay (Mongolia), NayaPay (Pakistan), Changi Pay (Singapore), OCBC Digital (Singapore), Kakao Pay (South Korea), Naver Pay (South Korea), Toss Pay (South Korea), TrueMoney (Thailand), and GCash (the Philippines).
The other option allows visitors to bind major international bank cards --Visa, Mastercard, JCB, Discover®, Diners Club International, and UnionPay International -- to the Alipay app to access to a rich array of local services, including shopping, dining, ride-hailing and public transportation, without needing a Chinese-mainland bank account or phone number. The number of card networks supported on Alipay is expected to increase to 7 as American Express has recently received an approval for an inbound wallet solution in China.
In addition to increased payment volumes, inbound tourists are embracing value-added services available on digital wallets for more immersive local experience. The number of Alipay+ partner wallet users redeeming digital coupons increased by 105% quarter-on-quarter over the past six months. Alipay+ wallet partners also introduced over 160 China-travel mini-programs to help visitors access services such as luggage storage, power-bank rentals, massage chairs, and even claw machines.
“Inbound tourism to China is experiencing a robust recovery, driven by a combination of government policies and private-sector initiatives like the International Consumer Friendly Zones program. These efforts have significantly alleviated challenges such as visa requirements, payment accessibility, and transportation capacity, making it easier for people to explore China,” says Liu Yufeng, Deputy Secretary-General, World Tourism Alliance, a China-based international tourism organization that currently has 253 members from 45 countries and regions.
Mohammed Badi, President of Global Network Services, American Express, said “American Express and Alipay have discussed potential areas of collaboration to deepen our partnership and we recently received approval from the State Administration of Foreign Exchange for an inbound wallet solution, which we very much appreciate. Both American Express and Alipay will share more information with our customers, stay tuned.”
“OCBC was the first Singaporean bank to offer global cross-border payment services through our own app via Alipay+, enabling our Singaporean customers to make payments easily at millions of merchants within Alipay+'s global ecosystem, including those in the Chinese mainland. As Alipay+ continues to expand its global services, we will keep improving our products and enhancing user experience, striving to gain recognition in even broader markets,” says Ang Eng Siong, Chief Executive Officer, OCBC China.
In first half of 2024, the number of users utilizing Alipay+ via the OCBC app doubled on year, with the transaction amount nearly tripling, said Mr. Siong.
“We've been encouraged by the substantial growth in mobile payment adoption among international visitors and the resulting boost in transactions for our merchant partners, especially since the launch of the International Consumer Friendly Zones program. Ant Group is committed to further elevating inbound travel experience through technological innovation and partnerships,” says, Cyril Han Xinyi, President and CFO, Ant Group.
Ant Group alongside its partners launched the International Consumer Friendly Zones program in Beijing in March 2024 to improve digital payment options' accessibility and ease of use for international travelers and has since expanded it to 70 cities, including Shanghai, Guangzhou, Shenzhen, Chongqing, and Chengdu. The program also covers 500 tourist hot spots, such as the Bund in Shanghai and Hangzhou’s famed West Lake.
At the main forum of the Conference, Peng Yang, CEO of Ant International, noted the impact of digital innovations on opening low-cost growth paths for SMEs across main businesses of the Singapore-based company. “Alipay+ has established a global network of 90 million merchant partners across 57 markets to make global travel seamless; while WorldFirst and Antom offer secure and fast digital payment solutions tailored to the needs of SMEs, global merchants and platforms. We look forward to expanding our partnership for digitalization and inclusion in all regions.”
About Ant Group
Ant Group traces its roots back to Alipay, which was established in 2004 to create trust between online sellers and buyers. Over the years, Ant Group has grown to become one of the world's leading open Internet platforms. Through technological innovation, Ant Group supports its partners in providing inclusive, convenient digital life and digital financial services to consumers and SMEs. In addition, it has been introducing new technologies and products to support the digital transformation of industries and facilitate industrial collaboration. Working together with global partners, the company enables merchants and consumers to make and receive payments and remit around the world.
About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions. To learn more, please visit: https://www.antglobal.com/
About Alipay+
Alipay+ is a suite of cross-border digital payment, marketing and digitalization solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240905209405/en/
Contacts
Media inquiries:
Martin Mou
mouxu.mx@antgroup.com
