SHANGHAI, 5 September 2024 — Ant Group today reported a significant surge in international visitors using its mobile payment services across China, seeing a fourfold increase in just the last six months. This success follows the launch of the International Consumer Friendly Zones program in March, which has now been implemented in 70 cities across China.
Cyril Han, President and CFO of Ant Group, shared at the 2024 INCLUSION·Conference on the Bund that the transaction volumes from inbound tourists using Ant-supported mobile payment services skyrocketed sixfold between March and August 2024, compared to the previous year. This unprecedented growth has unlocked major business opportunities for local merchants, with the number of merchants servicing overseas visitors tripling in the same timeframe.
Expanding International Partnerships for Seamless Payments
Since 2019, Ant Group has been at the forefront of driving innovation in mobile payments for international travelers. With support from the People’s Bank of China, the China Payment Facilitation Partnership has fostered collaborations with global card networks and digital wallets. During the 2023 Hangzhou Asian Games, two key mobile payment solutions were launched for international visitors, leading to continued growth in international payment partners.
Alipay+, operated by Ant International, now supports 13 leading e-wallets and payment apps across Asia, giving visitors a seamless payment experience across an 80-million-strong merchant network in China. Among the new additions are Kaspi.kz (Kazakhstan), MPay (Macao SAR), and Touch ‘n Go eWallet (Malaysia), ensuring a broad payment solution for travelers.
“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,” said Ang Eng Siong, Chief Executive Officer, OCBC China.
Enhanced Travel Experience Through Digitalization
In addition to making payments more accessible, Alipay+ partner wallets now offer value-added services, including digital coupons, which saw a 105% increase in redemptions quarter-on-quarter. More than 160 China-travel mini-programs were also introduced, offering services from luggage storage to claw machine games, creating a more immersive travel experience.
“We’ve been encouraged by the substantial growth in mobile payment adoption among international visitors,” said Cyril Han Xinyi, President and CFO of Ant Group, reinforcing the company’s commitment to improving the inbound travel experience through innovation.
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Strengthening Partnerships with Global Payment Leaders
In a major development, American Express has deepened its partnership with Alipay, receiving approval from the State Administration of Foreign Exchange for an inbound wallet solution, which will further facilitate payments for international visitors.
“American Express and Alipay will share more information with our customers, stay tuned,” said Mohammed Badi, President of Global Network Services, American Express.
International Consumer Friendly Zones
Ant Group’s International Consumer Friendly Zones program, launched in March 2024, aims to make digital payments more accessible and user-friendly for international travelers. Since its inception, the initiative has expanded to 70 cities and over 500 popular tourist spots, including Shanghai’s Bund and Hangzhou’s West Lake, revolutionizing the way international tourists explore China.
The Future of Digital Payments for Inbound Tourism
As China’s inbound tourism recovers, Ant Group is at the forefront of revolutionizing the travel experience with its advanced mobile payment solutions. As Peng Yang, CEO of Ant International, highlighted during the INCLUSION Conference, Ant Group’s digital innovations are driving low-cost growth for SMEs, while global travel is becoming more seamless with Alipay+ connecting 90 million merchants across 57 markets.
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/
