Boost in Tourism Spending: Ant Group’s Alipay+ Fuels Cross-Border Travel During Chinese New Year

Ant Group’s Alipay+ has played a pivotal role in driving a resurgence in outbound and inbound tourism spending, particularly during the recent Chinese New Year (CNY) travel season post-Covid-19. The utilization of Alipay+ cross-border mobile payment solutions has revolutionized the way travelers engage in transactions, offering seamless payment experiences at over 8 million merchants across 70 countries and regions directly from their Alipay app.

The convenience of Alipay+ extends beyond payment processing, providing travelers with in-app instant tax refunds, competitive exchange rates, and an expanding merchant network in key destinations like Manila and Cebu in the Philippines. A global campaign launched on the Alipay+ platform has successfully attracted outbound travel for Chinese tourists, resulting in a significant uptick in transactions and consumer spending during the CNY holiday week.

Chinese tourists have shown a strong inclination towards spending via Alipay in various destinations, with notable increases observed in the Philippines. The socio-economic ties between Hong Kong SAR, Macao SAR, and the Chinese Mainland, coupled with visa-free policies in Southeast Asia and improved flight capacities, have catalyzed the surge in cross-border travel. Top destinations for Chinese travelers using Alipay include Hong Kong SAR, Japan, Thailand, Malaysia, Singapore, South Korea, France, Australia, and Canada.

The evolving preferences of Chinese travelers have shifted towards immersive local experiences, leading to increased spending on food and beverage as well as transportation options within destinations. The adoption of mobile payments like Alipay has not only enhanced convenience for travelers but also benefited local businesses by reducing transaction costs and promoting sustainable tourism practices.

Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+, emphasized the growing significance of mobile payments in driving local and cross-border commerce. Anticipating further growth opportunities in 2024 through strategic partnerships with industry leaders and national tourist agencies, Alipay aims to continue facilitating seamless transactions for travelers while supporting local merchants’ growth.

The integration of various e-wallets like AlipayHK (Hong Kong SAR), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia) has further enriched the payment landscape for tourists visiting the Philippines. These advancements not only enhance the payment experience for travelers but also unlock new avenues for growth for local businesses ahead of an anticipated influx of inbound tourists.

Ant Group’s Alipay+ has emerged as a catalyst for revitalizing tourism spending during festive seasons like Chinese New Year, underscoring its pivotal role in shaping the future of cross-border travel experiences through seamless mobile payment solutions.