Saturday, March 30, 2024
Alipay+ connects 2M merchants in Japan with global e-wallets, boosting seamless payments for cherry blossom tourists and enhancing the travel experience.
As Japan braces for an influx of international visitors eager to experience the beauty of cherry blossoms, an innovative leap forward in the digital payment landscape is enhancing the travel experience for these global tourists. Ant International’s Alipay+ has emerged as a pivotal tool in this transformation, connecting an impressive two million merchants throughout Japan to a global payment network. This expansion means that both large and small businesses across the country are now better equipped to cater to the needs of international visitors, offering them a hassle-free payment experience that mirrors the convenience of their domestic e-wallets.
Alipay+ is not just any payment solution; it’s a comprehensive suite designed for cross-border digital payments, incorporating cutting-edge digitalization technology solutions. It currently supports an array of 16 e-wallets and banking applications from around the globe, including Alipay from the Chinese mainland, AlipayHK from Hong Kong SAR China, and MPay from Macao SAR China. Other notable partners include South Korea’s Kakao Pay, Naver Pay, and Toss, Singapore’s OCBC Digital, Changi Pay, and EZ-Link, as well as Malaysia’s Touch ‘n Go eWallet and MyPB by Public Bank Berhad. The network extends to the Philippines’ GCash and HelloMoney, Thailand’s TrueMoney, Mongolia’s Hipay, and Italy’s Tinaba, showcasing the solution’s wide international reach.
The impact of Alipay+ on Japan’s transaction volumes is staggering. In the initial three weeks of March, transactions processed through Alipay+ surged by more than 200% compared to the same period in the previous year, according to Douglas Feagin, President of Ant International. Feagin estimates that these transactions now account for approximately 10% of total spending by users during their stay in Japan. This significant uptick is indicative of the growing preference among travelers for seamless, digital payment options that eliminate the need for currency exchange or language translation at the point of sale.
The appeal of Alipay+ extends across a wide range of e-wallets, with Alipay, AlipayHK, Kakao Pay, Touch ‘n Go eWallet, GCash, and TrueMoney topping the list of favorites among Japan’s international visitors. The service’s rapid adoption is credited to its user-friendly interface, which allows tourists to make purchases effortlessly by scanning a QR code, mirroring the payment experience they’re accustomed to back home.
In the picturesque neighborhood of Asakusa, known for its bustling souvenir shops and delightful snack stalls, the adoption of QR code payments has skyrocketed. Here, PayPay, a leading cashless payment service and a partner of Alipay+ in Japan, has been instrumental in facilitating smooth transactions for both locals and international visitors. The area now reports a monthly cross-border mobile transaction volume that quintuples the average, underscoring the shift towards cashless payments.
The Daimaru Matsuzakaya Department Stores, a prestigious retail chain in Japan, has also witnessed a dramatic increase in transactions via Alipay+ partner e-wallets and bank apps, with volumes in the first two months of the year soaring to more than ten times the figures from the same period in the previous year.
Since its inception in 2020, Alipay+ has connected over 88 million merchants in 57 countries and regions to 1.5 billion consumer accounts across more than 25 e-wallets and bank apps. This extensive network facilitates effortless global travel and payment for consumers, while enabling merchants to engage with an international consumer base and explore digital marketing avenues. The strategic partnerships forged by Alipay+ with national QR schemes, including Singapore’s SGQR and Malaysia’s PayNet, further exemplify its commitment to simplifying cross-border payments, marking a significant step forward in the digitalization of the global payment system.
Sunday, April 28, 2024
Sunday, April 28, 2024
Sunday, April 28, 2024
