- Number of travelers who have used their home payment app to pay abroad via Alipay+ increased three times in first nine months of 2024
- Travelers spending habits have shifted, spending less on shopping and more on localized experiences such as food and attractions
SINGAPORE--BUSINESS WIRE--
Alipay+, Ant International's cross-border mobile payment and digitalization solution, revealed three trends shaping the future of tourism to the benefit of global merchants and the industry.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241009199791/en/
1) Travelers prefer their home payment methods to the benefits of merchants abroad
Alipay+ enables travelers to use their familiar home payment app when going abroad. An expanding merchant coverage and a strong travel recovery, Alipay+ has seen a surge in transactions globally. By using Alipay+, cross-border travelers can experience a new country or market and pay like a local.
Alipay for Chinese consumers - and an Alipay+ partner - has been accepted by global merchants starting from 2015, and continues to see steady growth in global transactions.
Alipay+'s mobile payment partners from around the world have also seen significant growth. In the first nine months of 2024, the number of people using an Alipay+ payment partner apps while abroad increased by three times, and the number of transactions increased by more than three times.
As of October 2024, Alipay+ has more than 30 payment partners, including leading e-wallets and bank apps from Asia and beyond, with 1.6 billion consumers, connecting consumers to more than 90 million merchants in 66 markets.
To allow more businesses to benefit from tourism, Alipay+ is continually expanding its merchant coverage, through initiatives such as the national QR schemes that enable inclusive growth at scale, particularly for SMEs. For example, through PayNet's DuitNow QR in Malaysia, Alipay+ has seen transactions increase on average by 142% per quarter in the first nine months in 2024. This ease of transaction allows travelers to easily visit smaller cities, driving significant growth in areas like Kota Kinabalu, Selangor and Penang.
Travelers are also using their payment apps online for pre-trip bookings. Online Travel Agencies (OTAs) that accept Alipay+ payment partners have seen transactions increase by two times over the same period. Other than through OTAs, Alipay+ is also accepted on other travel platforms including by top airlines, such as Thai Airways, Malaysian Airlines and AirAsia, hotels, attraction sites and more.
2) Travelers spend more, with a shift toward localized experiences
Alipay+ payment partners include top payment apps from across Asia, such as Alipay (Chinese mainland), AlipayHK (Hong Kong SAR), Touch 'n Go eWallet (Malaysia), GCash (the Philippines), KakaoPay, Toss Pay and Naver Pay (South Korea), OCBC (Singapore), TrueMoney (Thailand) and more. Asian travelers are visiting more regional destinations, with the highest number of Alipay+ transactions recorded in the Chinese mainland, Japan, Thailand, Macao SAR and South Korea.
Travel spending habits have also shifted since the Covid pandemic. While travelers are spending more overall, they are spending less on shopping and more on localized experiences. Spending via Alipay+ increasing by 80% on Food & Beverage (F&B) merchants and 50% for attractions. Spending via Alipay+ on transportation such as ride-hailing, taxis and trains have increased by 120%, in line with recent trends to explore destinations more independently.
3) All-in-one payment apps are reshaping travel habits
All-in-one payment apps offering additional services beyond payment have quickly become the go-to technology for Asian travellers. For example, TrueMoney, an Alipay+ payment partner from Thailand, saw its transaction volume through Alipay+ increase over 10-fold since launch. While Asia is the leader in mobile payments, there is also a growing trend for mobile solutions in other regions as seen by the emergence of e-wallets like Tinaba in Italy and interoperable solutions like Bluecode across Europe.
Alipay+'s partner e-wallets and merchants are increasingly leveraging Alipay+ digital tools to enhance the travel experience for users, offering seamless service and engagement for every step of their journey.
Tourism boards and merchants can use A+Rewards, a customizable destination marketing platform, to increase visibility of local attractions, shops and travel information even before a trip starts. In Southeast Asia, where Alipay+ is widely accepted, the number of claimed destination vouchers from A+Rewards increased by 53% across key campaigns in 2024.
Additionally, merchants can leverage the vast user base of Alipay+ payment partners with customizable digital lifestyle services such as for transport, food, tax refunds and more. A notable example is FREENOW, a leading European taxi service, which launched a mini-program directly within Alipay+ partner apps.
About Alipay+
Alipay+ is a suite of cross-border digital payment, marketing and digitalization 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241009199791/en/
