ALIPAY+
Users of 12 popular overseas e-wallets from 8 countries and regions can now enjoy a seamless digital mobile payment experience in Mongolia thanks to the partnership between Khan Bank, the leading Mongolian full service bank, and Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240605811315/en/
Ms. Erdenedelger Bavlai, First Deputy CEO of Khan Bank (left) and Mr. Frank Piao, Country Manager, Alipay+ Mongolia officiated the partnership ceremony at Khan Bank HQ, Mongolia. (Photo: Business Wire)
Powered by Alipay+, users of these popular Asian and European e-wallets and payment apps will enjoy a smooth and secure payment experience in Mongolia whenever they encounter the Alipay+ logo at participating merchants ranging from established hotel chains and restaurants to department store and cashmere outlets located throughout the country. Through the one-stop integration feature provided by Alipay+, these merchants are able to accept payments from these mobile payment apps on the same QR code interfaces displayed at physical stores, or by scanning the QR code in user’s app.
In addition, Alipay+ marketing solutions will also enable the local merchants the ability to create promotions, distribute digital coupons and discount offers directly reaching users of those e-wallet super apps in their respective markets – all at the same time to achieve better marketing efficiency and scalability.
Popular e-wallets and bank apps newly brought into Mongolia by Alipay+ include Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), Tinaba (Italy), MyPB by Public Bank Berhad and Touch ‘n Go Digital (Malaysia), GCash (The Philippines), Changi Pay and OCBC Digital (Singapore), Kakao Pay, Naver Pay and Toss Pay (South Korea), and TrueMoney (Thailand).
As a celebration of the new partnership between Alipay+ and Khan Bank, a series of promotion activities will be launched from now on through October, 2024. Users of eight e-wallet super apps namely AlipayHK, MyPB by Public Bank Berhad, GCash, OCBC Digital, Kakao Pay, Naver Pay, Toss Pay, and TrueMoney will enjoy 10% instant discount when making their purchases on Khan Bank’s POS terminals from now through October, 2024. More mobile payment service apps are expected to join in the months to come.
Ms. Erdenedelger Bavlai, First Deputy CEO of Khan Bank, noted, “Khan Bank was the first financial institution to sign an agreement with the Ant group back in 2021, enabling international payment process through Alipay. This time we are delighted to expand our partnership with the group and accept digital payment of users from eight countries and regions powered by Alipay+ on Khan Bank terminals for the first time in Mongolian market. This partnership is significant for not only Khan Bank but also for Mongolia as it contributes to the development of tourism besides securing seamless payment for tourists and travelers coming to Mongolia.”
Mr. Danny Chung, General Manager of Alipay+ Korea, Europe, Middle East and Mongolia, said, “Mongolia is one of the favorites destinations for international travelers. The partnership with Khan Bank marks a significant milestone for Alipay+ as Mongolia becomes a new destination to accept cross-border mobile payments, powered by Alipay+. This partnership is a testament to our commitment to bringing a convenient and secure digital payment experience for international travelers.” He added, “Together with Khan Bank we are connecting local businesses with international visitors, offering better travel experience to tourists and greater business opportunities and visibility for local merchants.”
Since post-COVID, Mongolia has seen an increase of inbound travelers in the past three years. In addition, the Government of Mongolia has announced 2024 and 2025 as years to visit Mongolia with an ambition to receive 1 million tourists from 2023 through 2025.
Introduced by Ant International in 2020, Alipay+ now connects over 88 million merchants in more than 50 countries and regions to over 25 e-wallets and bank apps, allowing consumers to travel and pay hassle-free globally, and merchants to expand cross-border consumer engagement and digital marketing.
In the addition to Mongolia as the latest Alipay+ destination, Alipay+ partner wallets have already been accepted at various major global destinations including the Chinese mainland, Hong Kong SAR, Singapore, Thailand, Malaysia, The Philippines, South Korea, Japan, Europe and the Middle East.
About Khan Bank
Khan Bank is the largest bank in Mongolia providing comprehensive financial products and services to its 2.9 million customers or 82 percent of the total population through its digital channels and 547 branches nationwide and ranks as number 2 in the country’s Top 100 private entities. Khan Bank supports MSMEs, which are the key drivers of the country's economic growth, by offering business loan products and non-financial services such as customer training and advisory and consulting services through its SME Business Centre. In recent years Khan Bank has been actively implementing projects in line with sustainable development initiatives, aiming to be greener and offering environmentally-responsible products and services. For more information, visit www.khanbank.com.
About Alipay+
Alipay+ is a suite of cross-border mobile payment and digitalization technology solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
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/20240605811315/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
AWS and HUMAIN Expand Partnership with NVIDIA AI Infrastructure and AWS AI Chip Deal to Drive Global AI Innovation19.11.2025 19:38:00 CET | Press release
Expanded partnership includes deployment of up to 150,000 AI accelerators including the latest NVIDIA GB300s AI infrastructure and AWS’s Trainium chips.Amazon Bedrock will provide customers access to best-in-class foundation models optimized across diverse, high performance AI chip infrastructures.AWS becomes HUMAIN’s preferred AI partner with AWS and HUMAIN collaborating to bring AI compute and services to customers worldwide. Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), and HUMAIN, a Public Investment Fund (PIF) company delivering global full-stack AI solutions, announced today at the U.S.-Saudi Investment Forum their plans to provide, deploy and manage up to 150,000 AI accelerators in a data center facility known as an “AI Zone” in Riyadh. As part of the expanded partnership, AWS will become HUMAIN’s preferred AI partner globally, and the two companies will collaborate to bring AI compute and services from Saudi Arabia to customers worldwide. This pre
Luma AI Raises $900 Million Series C Led by HUMAIN And Partners on 2 Gigawatt AI Supercluster in Saudi Arabia19.11.2025 18:15:00 CET | Press release
New capital and compute infrastructure will accelerate Luma AI’s path towards Multimodal AGI – AI that can simulate reality and help humans in the physical world.HUMAIN to build Project Halo, one of the world’s largest AI compute clusters that will include the training of World Models, the next step in AI after LLMs - a potential trillion-dollar opportunity spanning entertainment, marketing/brands, education, world understanding, and robotics industries.Partnership includes HUMAIN Create, an initiative to build AI models trained on Arabic and regional data, helping enterprises and governments across MENA adopt culturally aligned AI. Luma AI, the frontier artificial intelligence company building multimodal AGI, today announced it has raised $900 million in Series C funding, led by HUMAIN, a PIF company delivering global full-stack AI solutions, with significant participation from AMD Ventures, and existing investors Andreessen Horowitz, Amplify Partners, and Matrix Partners. This press
Synthio Labs Raises $5 Million to Build the Voice AI Operating System for Life Sciences Customer Engagement19.11.2025 16:00:00 CET | Press release
Synthio Labs, a clinical-grade voice AI company transforming how life sciences organisations engage clinicians and patients, today announced that it has raised $5 million in seed funding. The round was led by Elevation Capital with participation from 1984 Ventures, Peak XV Partners, Y Combinator, and several strategic angels from the global healthcare and AI ecosystem. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251119509940/en/ Rajashekar Vasantha (left), Supreet Deshpande (center), and Sahitya Sridhar (right), the founding team behind Synthio Labs’ voice-powered AI platform for pharma “We believe Synthio Labs is defining the next major Customer Engagement infrastructure for Life Sciences. Their Clinical-grade Voice AI platform unifies how pharma communicates - giving field teams a powerful voice companion, and giving physicians and patients instant, trusted, compliant answers 24/7. Pharma’s global Commercial and GTM foo
Torq Crushes EMEA Estimates With Record-Breaking Q3, Hitting 185% of Quarterly Target19.11.2025 15:00:00 CET | Press release
Torq Achieves 284%EMEA Customer Growth As It Signs Iconic Enterprises Including Virgin Atlantic, Kyocera, Siemens, and Zara Torq, the autonomous security operations leader, today announced it has exceeded Q3 EMEA revenue estimates, achieving 185% of its quarterly target. Torq is now firmly established as EMEA’s autonomous security operations platform of choice as enterprise goliaths continue joining its customer ranks, including Virgin Atlantic, Kyocera, Siemens, and Zara. Torq’s EMEA headcount grew 400% across 2025 to accommodate the exponentially increasing demand. “As worldwide momentum accelerates, Torq is doubling down on its EMEA investment by expanding operations, growing regional leadership, and strengthening our on-the-ground presence to fuel our next stage of growth,” said Ofer Smadari, CEO and co-founder, Torq. “Torq is now trusted by many of the world’s largest brands inside some of the most complex and sophisticated security operations centers. With new expansion into Germ
iConnections Launches Pipelines: A Powerful New Way for LPs and GPs to Turn Connections Into Real Momentum19.11.2025 15:00:00 CET | Press release
iConnections, the leading network for allocators and fund managers, today announced the launch of Pipelines, a new productivity and relationship-management tool built directly into the platform. Pipelines gives LPs and GPs a structured, visual, and purpose-built way to organize their outreach, nurture relationships, and drive their fundraising or investment processes forward—without relying on fragmented spreadsheets or generic CRMs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251119021208/en/ Born from extensive feedback across the alternative investment ecosystem, Pipelines is designed to solve a common industry challenge: after a productive event or outreach cycle, promising conversations often lose momentum because there is no simple, tailored way to track next steps. “With Pipelines, users finally have a workflow that matches the way this industry actually operates,” said Douglas Melchior, VP of Product at iConnectio
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