Alipay+ has announced a significant expansion in its merchant coverage, now serving 90 million global merchants across 66 markets. This move comes on the heels of the UEFA EURO 2024, where Alipay+ saw a notable increase in transactions, especially among tourists using their preferred home payment apps.
How Did UEFA EURO 2024 Influence Alipay+?
The UEFA EURO 2024 provided a unique platform for Alipay+ to showcase its capabilities. During the tournament, there was a 30% increase in tourists paying with their home payment apps via Alipay+. This surge highlights the growing trend of mobile-savvy travelers seeking convenience and security in their transactions.
European merchants embraced this digital shift, leading to a 27% year-on-year increase in transactions from Alipay+ partner e-wallets. Notably, in Germany, Alipay+ transactions skyrocketed by 73%, with a 40% increase in merchants accepting these payments.
What Does This Expansion Mean for Global Merchants?
For global merchants, this expansion means greater access to international customers, especially from regions such as the Chinese mainland, Hong Kong SAR, Malaysia, and South Korea. By integrating Alipay+, merchants can offer a seamless payment experience that aligns with the preferences of these tourists. This integration not only boosts sales but also enhances customer satisfaction by providing familiar payment methods.
Moreover, Alipay+ is extending its reach beyond traditional retail. In Japan, for instance, tourists can now use Alipay+ at over 300,000 merchants, including major department stores, convenience stores, and electronics retailers. This broad acceptance ensures that visitors can rely on Alipay+ for a wide range of purchases, enhancing their overall travel experience.
How Is Alipay+ Supporting Local Businesses?
Alipay+ is also making significant strides in supporting local businesses, particularly small and medium-sized enterprises (SMEs). Through targeted promotions and collaborations, it is helping merchants such as independent shops in Milan's Chinatown and various local businesses across Europe attract and retain international customers.
Additionally, the platform's integration with digital tax refund services allows Chinese tourists to receive instant tax repayments via the Alipay app, further incentivizing spending.
In South Korea, Alipay+ is expanding its acceptance in transportation, enabling tourists to use their home payment apps for bus rides and train tickets. This convenience extends to over 1.9 million merchants, thanks to a partnership with ZeroPay, the national QR standard.
What Are the Broader Implications for the Payment Industry?
The success of Alipay+ during the UEFA EURO 2024 and its subsequent expansion underscores the growing importance of cross-border digital payments. As international travel rebounds to pre-pandemic levels, the ability to offer seamless, secure, and convenient payment options will be crucial for businesses worldwide.
Alipay+'s approach demonstrates how strategic partnerships and technological innovation can drive growth in the global payments industry.
Furthermore, this expansion highlights the potential for digital payment platforms to bridge the gap between different payment ecosystems. By connecting users of over 30 payment partners to a vast network of merchants, Alipay+ facilitates smoother transactions and fosters greater financial inclusion.
What Can We Expect in the Future?
As Alipay+ continues to expand its global footprint, we can expect further innovations aimed at enhancing the travel experience. The platform's ongoing campaigns in Southeast Asia, partnerships with national QRs, and collaborations with major retailers indicate a strong commitment to providing comprehensive digital payment solutions.
In the near future, Alipay+ is likely to introduce more features that cater to the evolving needs of global travelers. These could include advanced loyalty programs, personalized offers, and enhanced security measures to protect user data. Such developments will not only benefit consumers but also drive competitive advantages for merchants.
