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
NHOA Energy Advances Delivery of the 51 MWh Broni Battery for Neoen in Italy19.2.2026 08:00:00 CET | Press release
The project confirms NHOA Energy’s long-term commitment to the Italian market NHOA Energy, global provider of utility-scale energy storage systems, is advancing the construction of the Broni Battery, a 10 MW/51 MWh project located in Broni (Pavia), Italy, executed for Neoen, one of the world’s leading independent producers of renewable energy. Civil works at the site are currently underway and advancing on schedule, with commissioning activities planned to start in late spring 2026. Once operational, the Broni Battery will provide essential flexibility services to the Italian electricity system, supporting grid stability and reliability as renewable energy penetration continues to increase. The project represents Neoen’s first battery storage asset in Italy and marks a strategic step in the company’s expansion, as it continues to grow its battery storage portfolio in key markets worldwide to support power system flexibility. The Broni Battery further strengthens NHOA Energy’s long-term
Compass Pathways Announces Pricing of $150 Million Public Offering19.2.2026 02:18:00 CET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation, announced today the pricing of its public offering of 17,500,000 American Depositary Shares (“ADSs”) at a public offering price of $8.00 per ADS, each representing one ordinary share, and in lieu of ADSs, to certain institutional investors, pre-funded warrants to purchase up to 1,250,000 ADSs at a public offering price of $7.9999 per pre-funded warrant. In addition, Compass Pathways has granted the underwriters a 30-day option to purchase up to an additional 2,812,500 ADSs at the public offering price, less the underwriting discounts and commissions. All of the securities are to be sold by Compass Pathways. The offering is expected to close on or about February 20, 2026, subject to the satisfaction of customary closing conditions. The gross proceeds to Compass Pathways from the offering, before deducting underwriting discounts and commissions and other est
Andersen Consulting udvider sine kompetencer inden for ledelsesrekruttering med Lansdowne Executive Search18.2.2026 17:08:00 CET | Pressemeddelelse
Andersen Consulting styrker sin humancapital-praksis gennem en samarbejdsaftale med Lansdowne Executive Search, der er en Dublin-baseret virksomhed med speciale i lederrekruttering, midlertidige ledelser og bestyrelsesudnævnelser. Lansdowne Executive Search er en irisk-ejet virksomhed, der blev grundlagt i 2015, og som tilbyder C-level-ledelsesekruttering, deltidsledere og bestyrelsesplaceringer. Som en partnerdrevet boutique-virksomhed er Lansdowne kendt for, at seniorledelsen er tæt involveret i alle kundeprojekter. Virksomheden hjælper kunder med at navigere i komplekse ledelsesovergange og vækststrategier på tværs af en bred vifte af sektorer, herunder finans, byggeindustrien, nonprofit, landbrug, videregående uddannelse, den offentlige sektor samt teknologi, medier og telekommunikation. "God ledelse er afhænger af situationen, og det kræver forståelse af langt mere end blot et CV," sagde Tom Keane, der er partner hos Lansdowne Executive Search. "Samarbejdet med Andersen Consulting
Andersen Global styrker sin platform for global mobilitet med nyt medlemsfirma18.2.2026 17:01:00 CET | Pressemeddelelse
Andersen Global styrker sin tilstedeværelse i Schweiz med tilføjelsen af medlemsfirmaet Exactio, hvilket øger organisationens globale mobilitetskapacitet og yderligere forbedrer dens integrerede, tværfaglige model for professionelle ydelser. Exactio tilbyder specialiseret rådgivning og compliance-løsninger inden for global mobilitet til multinationale virksomheder og internationalt mobile personer. Firmaets erfarne team rådgiver om schweiziske og internationale skatteforhold, social sikring, pension, lønadministration og immigration, og det hjælper organisationer med at navigere i komplekse arbejdsgiverforpligtelser og sikrer samtidig en gnidningsfri og lovmedholdelig tilgang til global mobilitet. Exactio stræber efter at forstå hver enkelt klients unikke behov og levere hurtige, praktiske løsninger gennem en personlig og menneskelig tilgang i ethvert samarbejde. "Hos Exactio forpligter vi os til at levere personlige, praktiske og rettidige løsninger, der gør det muligt for vores kunde
Perpetual Atomics Ltd, QSA Europe, QSA Global and Reef Origin to Collaborate on Building Radioisotope Power Systems in Europe18.2.2026 16:44:00 CET | Press release
Perpetual Atomics Ltd, QSA Europe (a trading name of Loma Systems s.r.o.), QSA Global, Inc., and Reef Origin signed an MOU in Prague to collaborate on the industrialized production of radioisotope power systems in Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218036211/en/ Teams from Perpetual Atomics & QSA Global (USA and Czechia) at the facilities in Czechia This MOU builds on the existing collaboration between QSA Global, Inc. and Perpetual Atomics Ltd by expanding and strengthening the capacity and capability to produce radioisotope power systems in Europe. The key partnership with QSA Europe provides access to existing facilities, capabilities, knowledge, and know-how for the storage, handling, and distribution of commercial radioisotope systems for terrestrial applications. This capability is directly transferable to radioisotope power technologies for space. Radioisotope and nuclear power technologies are
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