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
Alpaca Raises $150 Million at a $1.15B Valuation to Build the Global Standard for Brokerage Infrastructure14.1.2026 13:00:00 CET | Press release
Alpaca appoints lead investor Drive Capital’s Co-Founder and Partner Chris Olsen to its board Alpaca, a global leader in brokerage infrastructure whose APIs empower partners like Kraken, SBI Securities, and Dime!, today announced it has raised a $150 million Series D led by Drive Capital that values the company at $1.15 billion. Drive Capital’s Co-Founder and Partner, Chris Olsen, will join Alpaca’s Board of Directors as part of the investment. The company also secured a $40 million line of credit, further strengthening its balance sheet as it continues to expand globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114225657/en/ Alpaca Raises $150 Million at a $1.15B Valuation to Build the Global Standard for Brokerage Infrastructure “Our mission is to open financial services to everyone on the planet,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca. “We are building the global standard for brokerage infrastructure
Sixth Street Raises €3.75 Billion for Third European Direct Lending Fund14.1.2026 12:30:00 CET | Press release
Sixth Street SLE III Hits Hard Cap, Reflecting Long-Term Strength as One of Europe’s Leading Private Capital Platforms Sixth Street, a leading global investment firm, today announced the final close of Sixth Street Specialty Lending Europe III (“SLE III” or “the Fund”), at its hard cap with €3.75 billion in total equity commitments. SLE III is Sixth Street’s third and largest dedicated fund focused on providing financing solutions for companies across Europe. The total investable capital for SLE III is expected to be approximately €7 billion, including anticipated leverage. “We are grateful to our long-term capital partners for their trust and commitment to our strategy as we continue to support European businesses at any point in their lifecycle, offering customized capital solutions delivered with speed and certainty,” said Michael Griffin, Co-Head of Sixth Street Global Direct Lending and Head of Europe Direct Lending. “This is a significant milestone for our European Direct Lending
500 Global Announces Promotion of Mei Chel Tan to Global Managing Partner14.1.2026 12:00:00 CET | Press release
Appointment reflects expanding demand for entrepreneurial ecosystem development and AI readiness across emerging markets. 500 Global, one of the world’s most active venture capital firms1, today announced the promotion of Mei Chel Tan to Global Managing Partner. Her appointment reflects both her leadership in expanding 500 Global’s footprint across high-growth regions and the accelerating AI transformation that is positioning nascent and emerging markets as central drivers of the next era of global growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114209489/en/ 500 Global announces promotion of Mei Chel Tan Mei Chel joined 500 Global in 2016 and was appointed Partner in 2023. Over the past decade, she has helped shape the firm’s expansion across Asia, Europe, Middle East and Africa — architecting the launch of early Asian investment funds and vehicles, leading market-entry strategies, developing national ecosystem di
Usercentrics Acquires MCP Manager to Bring Consent and Trust to AI14.1.2026 11:15:00 CET | Press release
Extending Privacy‑Led Marketing from websites and apps into AI workflows, so businesses can scale AI with much-needed oversight, auditability, and control Usercentrics, the global leader in Privacy-Led Marketing solutions, announced today it has acquired MCP Manager, a next-generation governance platform for the Model Context Protocol (MCP), built by a team with deep expertise in AI infrastructure. The acquisition makes Usercentrics the first major global market leader in data privacy solutions to extend consent and data guardrails into AI-driven workflows. The combined platform will deliver a unified Privacy-Led Marketing Suite that manages consent, preferences, and data governance across websites, apps, internal systems, and consumer-facing AI agents. Because these agents increasingly shape personalization and customer engagement, extending consent into real-time, model-driven interactions applies the same rigor that exists at data collection. This keeps experiences transparent, trus
Blue Shift Report Highlights Systemic Vulnerabilities Caused by the Hidden Cost of AI14.1.2026 10:00:00 CET | Press release
Arthur D. Little’s Blue Shift institute has published its latest report, AI’s Hidden Dependencies. This in-depth report, involving more than 50 experts, explores AI’s resource dependencies and the consequent direct systemic vulnerabilities for businesses and lays out strategic actions in response. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114966898/en/ Arthur D. Little’s Blue Shift Institute has published its latest report, AI’s Hidden Dependencies With AI’s adoption and usage expected to remain on its growth trajectory, so is its strain on resources. The report notably identifies three main areas of dependency: Environmental impacts, including emissions due to AI’s heavy energy usage and the manufacture of related hardware Energy supply, including increased electricity demand and strain on the grid Compute infrastructure, including supply chain choke points and dependencies on dominant providers As AI is now becomin
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