Published on : Tuesday, December 4, 2018
Alipay has over 700 million active users in China as of September, with 70 percent of them using three services provided by Alipay, according to Alibaba’s latest quarterly earnings report.
There are over 40 million small shops and sellers in China support payment through the QR code stickers by Alipay. Urban residents can also enjoy more than 100 services in fields such as social security, transport and civil affairs.
Alipay also reshaped Chinese tourism business. In 2017, there were 145 million Chinese tourists who travelled overseas, bringing in a total of $US1.6 trillion ($2.1 trillion) revenue globally, according to the China Outbound Tourism Research Institute. Chinese tourists account for 21 per cent of global travel spending this year so far, according to the United Nations World Tourism Organisation. The annual number of Chinese tourists is forecast to continue to grow with overseas trips expected to almost triple to 400 million by 2030.
Since Alipay began its globalization efforts in 2007, it has provided mobile payment and inclusive finance services to 870 million users worldwide. Alipay wallet service is available in nine countries and regions, while a total of 80 airports in over 40 countries and regions support instant VAT refunds on Alipay.