ALIPAY
16.2.2024 12:55:32 CET | Business Wire | Press release
Data from Ant Group shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the Covid-19 pandemic, especially in cross-border tourism.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240216321328/en/
Singapore's Yue Hwa Department Store welcomes tourists with banners showcasing acceptance of Alipay and other Alipay+ partner e-wallets (Photo: Business Wire)
Robust recovery, diversified destinations and scenarios for outbound Chinese tourists using Alipay
Through the Alipay+ cross-border mobile payment technology solutions, Chinese travelers may pay for goods, food and beverage, recreation and entertainment at over 8 million merchants in over 70 countries and regions, all from their familiar home app Alipay, with no need to change money or carry cash. Alipay also offers in-app instant tax refunds, as well as transparent and competitive exchange rates.
A global campaign has been in full swing on the Alipay+ merchant network since December 2023 to attract Chinese tourists. In the CNY holiday week between February 9th and 12th, the number of transactions made by Alipay users overseas surpassed that of 2019 by 7% while consumer spending recovered to 82% of the 2019 level, or 2.4 times of 2023.
Closer socio-economic connections between Hong Kong SAR, Macao SAR and the Chinese Mainland, the new visa-free policies from major Southeast Asia destinations and recovering international flight capacities are key drivers of the cross-border travel boom. While traditional Asia favorites keep their enthusiastic following, more distant destinations in Europe, ANZ, the Middle East and North America are also picking up in Chinese traveler spending.
Hong Kong SAR, Japan, Macao SAR, Thailand, Malaysia, Singapore, South Korea, France, Australia and Canada are the top destinations for Chinese travelers by their Alipay spending. Thailand, Malaysia and Singapore combined saw a 7.5% increase over 2019, and a 580% leap over 2023, with Thailand leading in total volume and Malaysia showing the largest increase.
Besides a larger physical parameter, the Chinese globe-trotter is also expanding her interest from traditional activities like shopping and tourism spots-hopping, to more immersive and unique local experience. Globally in the CNY week, Chinese tourists spent 70% more on food and beverage than in 2019, venturing from downtown hotspots to out-of-the-way local treasures.
In-town transportation volume grew fast thanks to the passion for "travel local". Alipay users in multiple destinations now may choose from rail, taxi, rideshare, car rental, bus, subway and even scooter-share when abroad, all from the familiar app on their own phone. The cost per ride on any vehicle for Alipay travelers dropped by 60% compared to 2019. A lighter carbon footprint also means more local SMEs on the public transport network gain a share of international tourist revenue.
China native: AI, popular culture and social buzz drive consumer enthusiasm
On Alipay's home front, 2024 is also the first time AI features prominently adopted in online holiday celebration nationwide. AI features in the app drew 600 million user interactions during Alipay's signature annual Five Fortune campaign. Over 12 million Alipay users created personalized digital red packets using AI voice and video generation technology on the Alipay platform.
Consumer enthusiasm is also fanned by major popular culture trends. Spending soared along Huanghe Road in downtown Shanghai, iconized in a recent hit TV series. Alipay figures show that the 2024 Chinese New Year Eve dinners at restaurants alongside Huanghe Road featured in the popular TV series Blossoms Shanghai were already fully reserved a week before the festival, with transaction volume going up by 800% year-on-year. Tourism businesses in the snow-cladded cities of Harbin and Shenyang in Northeast China were also surprised by an extraordinary influx of Chinese and international visitors thanks to a social media mega-buzz.
Robust intra-Asia flows among Alipay+ partner e-wallets
The Chinese New Year is widely celebrated across Asian communities. With new partnerships in 2023 and increased travel, total cross-border spending on the region's leading e-wallets powered by Alipay+ increased by 252% year-on-year. Daily average transactions increased by 304%. Japan, South Korea, Macao SAR, Thailand and Singapore are the top 5 most popular destinations for Alipay+ consumers besides the Chinese mainland.
International e-wallets and cards-enabled Alipay accounts saw multi-fold expansion in the Chinese mainland. Since September 2023, 10 leading e-wallets and payment apps in Asia have been serving their roaming users across Alipay’s 80-million-strong merchant network in China, also supported by Alipay+. Visa, Mastercard, JCB, Discover®, and Diners Club International® also expanded their collaboration with Alipay for travelers linking their international credit or debit card to their Alipay e-wallet. During CNY 2024, international travelers to China spent 500% more on their international card-enabled Alipay accounts at merchants in the Chinese mainland compared to 2023. Chinese restaurants, tourist attractions and public transportation are the most popular use cases for international visitors traveling in China and experiencing the festival.
"With its use spreading across age and income groups, increasingly mobile payment is becoming an important promoter of local and cross-border commerce in Asia and beyond, " said Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+. "We expect to grow our partnerships with the payment industry leaders, national tourist agencies and merchants in 2024 to generate more growth. "
About Alipay
In the digital era, Alipay has evolved from a trusted payment tool to an open platform that connects businesses, institutions, service providers, and other partners with consumers. Alipay enables partners from various industries to offer safe and convenient payment options. It also enables partners to communicate and deliver different digital services to their customers in China through Alipay mini programs, lifestyle accounts and other tools. The Alipay platform has connected over 80 million businesses with more than one billion consumers.
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 solutions offered 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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240216321328/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Lenovo Group: Q4 and Full Year Financial Results 2025/2622.5.2026 01:47:00 CEST | Press release
Lenovo delivers exceptional fourth quarter results – maintaining growth and concluding strongest year in the Group’s history Lenovo GroupLimited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group’), today reported fourth quarter and full year results for fiscal year 2025/26, marking an exceptional Q4 and the strongest year in the Group’s history. During the quarter, overall Group revenue reached an all-time fourth quarter high of US$21.6 billion, up 27% year-on-year, marking the highest year-on-year growth rate in five years, with adjusted net income[1]doubling year-on-year to US$559 million. AI-related revenue[2] stood out as a leading growth engine, growing 84% year-on-year to account for 38% of total Group revenue in Q4. For the full year, the Group delivered record revenue of US$83.1 billion, with adjusted net income growing 42% year-on-year to US$2 billion. All business groups achieved solid double-digit year-on-year revenue growth, with a notable record full-yea
Andersen Global styrker sine globale mobilitetskompetencer med samarbejdspartneren Graebel22.5.2026 00:05:00 CEST | Pressemeddelelse
Andersen Global fortsætter med at styrke sin multidimensionelle platform gennem en samarbejdsaftale med Graebel, en global leder inden for medarbejdermobilitet og managed services med hovedkvarter i USA og globale aktiviteter på tværs af Nord- og Sydamerika, Europa og Asien. Graebel blev stiftet i 1950 og samarbejder med mange af verdens mest anerkendte organisationer om en mere simpel tilgang til mobilitet og talentstyring. Virksomheden hjælper organisationer med at støtte medarbejdere gennem hele ansættelsen – fra praktikophold og onboarding til national og international mobilitet samt karriereskift – gennem tjenester, der spænder over strategisk planlægning, hjælp til afrejse og på destinationen, assistance under udstationering, hjemsendelse og design af mobilitetsprogrammer. Gennem strategisk rådgivning og intelligent teknologi gør Graebel det muligt for organisationer at træffe mere informerede beslutninger og afstemme talentmobilitet med en bredere forretnings- og arbejdsstyrkest
The Estée Lauder Companies & Puig End Discussions Regarding a Potential Business Combination21.5.2026 22:05:00 CEST | Press release
The Estée Lauder Companies Reiterates Confidence in Its Beauty Reimagined Strategic Vision On March 23, 2026, The Estée Lauder Companies Inc. (NYSE: EL) and Puig confirmed they were in discussions regarding a potential business combination, but unless and until an agreement was signed between the companies, there could be no assurances regarding the deal or its terms. The Estée Lauder Companies and Puig today announced that the parties have terminated discussions regarding a potential business combination. The Estée Lauder Companies remains fully focused on continuing to execute its Beauty Reimagined strategy, which is well underway and delivering positive results. “We are grateful for the conversations we have had with Puig,” said Stéphane de La Faverie, President and Chief Executive Officer of The Estée Lauder Companies. “Today, we are reiterating our confidence in the power of our incredible brands, our talented teams, and our strength as a standalone company. We are more optimistic
Imagine Dragons to Perform at Abu Dhabi Grand Prix21.5.2026 17:51:00 CEST | Press release
Ethara, organiser of the Formula 1 Etihad Airways Abu Dhabi Grand Prix, have announced that one of the world’s biggest bands, Imagine Dragons, will headline the Saturday After-Race Concerts at the F1 Season Finale in Abu Dhabi. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521214839/en/ Imagine Dragons to perform at Formula 1 Etihad Airways Abu Dhabi Grand Prix (Photo: AETOSWire) The announcement is another landmark moment for the Abu Dhabi Grand Prix, whose thrilling Yasalam presented by e& fan entertainment offering has become synonymous with the F1 Championship finale in Abu Dhabi and is recognised as one of the most compelling sports and entertainment crossovers globally. The global chart-toppers join Lewis Capaldi and Zara Larsson, who are set to kick off a blockbuster line-up of performances on Yas Island on Thursday, 3 December, with more major international artists to be revealed. With their popular top hits, Ima
Carnegie Mellon University and Cleveland Clinic Develop AI System to Interpret Cardiac MRI Scans with Enhanced Accuracy21.5.2026 14:05:00 CEST | Press release
Trained on more than 13,000 patient studies, novel system significantly outperforms existing models by up to 35% A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521762286/en/ A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. The novel system, called CMR-CLIP, is d
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom