Alipay and AlipayHK Cross-Border Transactions Rebound During Chinese New Year as Travels Resume
January 29 2023 - 11:46PM
Business Wire
- Between Jan 21-27, the seven-day-long public holiday in the
Chinese mainland to celebrate the Year of the Rabbit, Alipay and
AlipayHK, both Alipay+ wallet partners, registered huge rebounds in
cross-border transactions as China relaxed its travel
restrictions
- Besides the Hong Kong SAR and Macao SAR, Southeast Asia remains
one of the most popular destinations for outbound Chinese tourists,
with Thailand, Malaysia, Singapore and the Philippines topping the
list in terms of Alipay cross-border payments during the
holiday
China’s outbound and inbound travels showed fast and resilient
rebounds during the recent long holiday to commence the year of the
Rabbit, as witnessed by strong growth of popular cross-border
digital payments.
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Besides the Hong Kong SAR and Macao SAR,
Southeast Asia remains one of the most popular destinations for
outbound Chinese tourists, with Thailand, Malaysia, Singapore and
the Philippines topping the list in terms of Alipay cross-border
payments during the Chinese New Year holiday. (Photo: Business
Wire)
Between January 21 and 26, the year-on-year growth of outbound
transaction volumes by Alipay users has surged by 150%, with the
Hong Kong and Macao S.A.R.s being the most popular destinations for
mainland consumers, based on the number of transactions during this
Chinese New Year period.
Specifically, the number of transactions through Alipay from
Chinese mainland tourists to Macao increased by 100%, while that
from Chinese mainland tourists to Hong Kong increased by nearly
70%. Alipay currently serves more than 1 billion users and has
transformed from a trusted payment tool to a digital open platform
over the years.
Besides Hong Kong and Macao, Southeast Asian countries have
reclaimed their importance as one of the most popular destinations
for outbound Chinese mainland travelers. The top five Southeast
Asian markets with the highest transaction volume by Alipay users
during the first six days of the holiday were Thailand, Malaysia,
Singapore, the Philippines and Cambodia.
Japan is one of the top five destinations for Alipay users
during the period, along with Hong Kong, Macao, Thailand, and
Malaysia. The most Alipay cross-border payments took place with
merchants such as street vendors and convenience stores, and the
highest average spending was seen at duty-free shops across various
markets.
On January 8, China announced its first steps to reduce travel
restrictions between the mainland and Hong Kong, lifting quarantine
requirements that were in place for almost three years. The Chinese
New Year public holiday witnessed a surge in cross-border travel
between the mainland and overseas markets as mainland consumers
resumed overseas travel and travelers from Hong Kong and Macao
piled back to the mainland, mostly for family reunions or leisure
activities.
AlipayHK, the most popular e-wallet in Hong Kong, with 3.3
million active users, saw transactions in the mainland and Macao
jump 18 times from January 21 to 24, compared to the same period
last year.
The number of AlipayHK users that completed a transaction in the
mainland and Macao also soared 15 times year-on-year in the same
period.
Both Alipay and AlipayHK are e-wallet partners of Alipay+, an
Ant Group-owned provider of global cross-border digital payment and
marketing solutions, which connects merchants with multiple
e-wallets and payment methods.
Currently, Alipay+ has over 15 mobile payment partners globally.
Consumers can conveniently use their preferred local payment
methods while transacting seamlessly in different market and be
able to enjoy marketing offers by merchants through Alipay+.
About Alipay+
Alipay+ offers unified global mobile payment and marketing
solutions that connect merchants with multiple e-wallets and
payment methods from different countries and regions by
collaborating with global partners. Consumers can conveniently use
their preferred local payment methods while transacting seamlessly
in a different market and be able to enjoy marketing offers by the
merchants through Alipay+. Alipay+ is developed by Ant Group, the
owner and operator of Alipay, one of the world’s leading digital
open platforms.
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Media Inquiries Li Tao Ant Group tao.l@antgroup.com