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Tag: Alipay

  • Fintech Firm Partners Alipay for Remittances

    Fintech Firm Partners Alipay for Remittances

    Tranglo will facilitate cross-border remittances to users of Alipay, who will be able to receive quick and secure money transfers within the app. Southeast Asian Fintech company Tranglo is partnering payment and lifestyle giant Alipay on cross-border remittances, the firm announced on Thursday on its blog.

    Tranglo said the service enables more inclusive money transfers across borders to a range of customers and hopes the service will be able to benefit Asian migrant workers, who frequently send money back home. The company already has a number of partnerships with local partners.

    Tranglo called it a significant milestone, noting Alipay’s user base of more than 1.2 billion customers globally, together with its local e-wallet partners.

    Founded in Malaysia in 2008, Tranglo operates a cross-border payment hub that provides smart services for mobile airtime top-ups, as well as foreign remittance and business payments.

    The firm’s remittance service works in 21 currencies and has 1,300 payout partners. As of 2019, it has processed $4.66 billion in transfers, according to its website. The company has offices in Kuala Lumpur, Singapore, U.A.E., London and Jakarta.

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  • Alipay wants to help 10 million European businesses reach 2 billion consumers

    Alipay wants to help 10 million European businesses reach 2 billion consumers

    Payment and lifestyle platform Alipay intends to support 10 million small and medium enterprises in Europe over the next five years with technology to empower them to reach more than 2 billion potential consumers traveling to the region from around the world.

    The strategy to support these merchants was unveiled during the Alipay Partners Global Summit in London. It includes an expanded collaboration with European acquirer Worldline, as well as a new initiative to serve airport shops around the world through in-app mini-programs.

    “Our aim is to improve the way in which individuals and businesses buy, sell and receive payments, and to do this, we need to draw upon the strength of our partnerships,” said Alipay operator Ant Financial’s chairman and CEO Eric Jing. “Our growth has only been possible due to the network of partners we have established, and working together, we will make it easier for anyone to do business anywhere.

    “Our innovative solutions will continue to help merchants in Europe better serve the growing numbers of tourists as well as e-commerce shoppers coming to the region from all over the world.”

    Alipay is China’s most popular digital payment service, according to market researcher Statista, with 87 percent of survey respondents in the country aged between 18 and 69 reporting they use Alipay for their digital financial needs. Alipay currently serves more than 1.2 billion users together with local e-wallet partners in South Korea, Thailand, Malaysia, the Philippines, Indonesia, India, Bangladesh, and Pakistan.

    In a report published this year, Nielsen found that more than 93 percent of Chinese tourists would be more willing to make purchases with their mobile phones and would even increase their spending if the option were available, while 60 percent of surveyed merchants who adopted Alipay reported growth in foot traffic and revenue.

    Currently, Alipay collaborates with more than 120 financial institutions in Europe and continues to add more and more partnerships with travel service agencies and other types of third-party service providers. This is intended to help merchants deliver enhanced experiences to their customers as they seize the growth opportunities in the global travel market.

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  • Alipay now available for tourists in China

    Alipay now available for tourists in China

    International travelers can now use mobile payments in China as Alipay has launched a new version of its payment app designed for short-term overseas visitors.

    After installing the Alipay app, international visitors can register with their overseas mobile phone number to access the “Tour Pass” mini-program through which they can use the “Prepaid Card” service provided by the Bank of Shanghai.

    The minimum top-up for each card is CNY100, with balance capped at CNY2000. The card is valid for 90 days, after which any remaining funds will be refunded automatically.

    With the new Alipay service, visitors can pay through QR code or make online purchases through the app.

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  • Chinese shoppers can now use Alipay at the Mall of Asia

    Chinese shoppers can now use Alipay at the Mall of Asia

    Chinese consumers can now use Alipay at the Mall of Asia stores  thanks to a joint venture between Ant Financial Services and SM.

    Technology to allow retailers to accept Alipay has been installed at almost half the mall’s stores already, with the rest to follow within three to six months.

    Opening the way for Chinese to use Alipay at the Mall of Asia is aimed at attracting more tourists to the mall – as well as the increasing locally based Chinese population.

    “SM Mall of Asia is a must-visit shopping destination among tourists who enjoy the wide array of shopping and dining offerings and unique amenities,” said Cherry Huang, GM, cross-border business for South and Southeast Asia at Alipay.

    “We are happy to partner with SM Mall of Asia to deploy Alipay acceptance points in the mall for shoppers who are looking for the best of retail and lifestyle offerings and the same seamless shopping experiences that they enjoy at home. At the same time, we are very excited to help merchants in SM Mall of Asia connect with tourists before they’ve even arrived in the Philippines through our platform’s marketing capabilities.”

    Since Alipay entered the Philippines in 2017, the number of Alipay acceptance points has grown exponentially across retail, hospitality and entertainment attractions. Aside from Manila, Alipay acceptance points are available in six provinces frequented by Chinese tourists, including Cebu, Davao, Palawan and Boracay.

    According to the Philippines Department of Trade and Industry, international tourist arrivals to the Philippines rose by 7.7 per cent to 7.1 million visitors last year. China contributed 1.255 million of them, a growth rate of 30 per cent year on year.

    More than 3.12 million Chinese citizens have taken up residence in the Philippines since January 2016.

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  • Alipay’s e-wallet partner GCash introduces GCash Forest in the Philippines

    Alipay’s e-wallet partner GCash introduces GCash Forest in the Philippines

    Filipinos who want to contribute to environmental preservation can now conveniently use an innovative mobile phone app to help plant trees and increase the Philippines’ forest cover.

    Leading mobile wallet, GCash, is introducing an exciting “green” feature on the app called GCash Forest, which lets subscribers plant virtual trees that will have real-life counterparts. By the end of 365 days, GCash Forest aims to plant 365 thousand trees with the help of GCash subscribers.
    According to the Department of Environment and Natural Resources’ Forest Management Bureau (FMB), the Philippines is losing 47,000 hectares of forest cover every year. The FMB also reported the need to rehabilitate 1.2 million hectares of forest lands by 2022 to prevent landslides, ensure water availability, and preserve biodiversity.

    “GCash Forest is about making it easier, more convenient, and even rewarding for everyone to take care of our environment for the benefit of future generations,” said Mynt CEO Anthony Thomas. “GCash is no longer just providing an excellent platform for accessible financial products and services but also enabling Filipinos to be more active in responding to real-life issues, such as climate change mitigation through reforestation.”
    GCash considers GCash Forest as the last mile initiative that fully recognizes the emergence of an all-digital Filipino lifestyle.

    To implement its tree-planting initiatives, GCash Forest partnered with the Department of Environment and Natural Resources (DENR), World Wildlife Fund (WWF) and The Biodiversity Finance Initiative (BIOFIN). The DENR will provide land resources in Ipo Watershed, an essential component of the Angat-Umiray-Ipo watersheds system supplying 98 percent of Metro Manila’s water. WWF will be providing trees and manpower while BIOFIN will provide expertise on monitoring.

    Thomas added that recent findings on the Philippines’ vulnerability to climate-related hazards call for greater collective action. Results of the Global Peace Index 2019 identified the Philippines as the most susceptible country to the adverse effects of climate change. By leveraging the GCash platform and scale, GCash Forest aims to rally a coalition of individuals, non-government organizations, and international organizations to meet its 2020 targets.
    To plant trees through GCash Forest, GCash users need to collect “green energy” by frequently using the app. Users who get enough green energy can choose which species of trees they want to plant in a selected area at the Ipo watershed. Once the trees are physically planted, users get to receive a certificate of ownership with a serial number, fun facts and updates on the growth of their trees on their GCash apps.

    “Many Filipinos, especially the younger ones, care about the environment but a lot of them don’t know how they can actively take part in environmental protection. This is a barrier that GCash Forest addresses because they only need to use their smartphones—an already integral part of their daily lives—to make a difference,” concluded Thomas.

    The new feature is inspired by Alipay Ant Forest, a product operates by Ant Financial, an Alibaba affiliate and the parent company of the world’s leading payments and lifestyle platform, Alipay. Via the mobile platform, more than 500 million users have planted 100 million real trees and advanced a shared vision of sustainable and inclusive development.

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  • Six European Mobile Wallets and Alipay Collaborate to Promote Digital Payment Interoperability across Europe

    Six European Mobile Wallets and Alipay Collaborate to Promote Digital Payment Interoperability across Europe

    Six prominent mobile wallets across Europe, together with Alipay, announce today a collaboration to promote QR code-based digital payment interoperability for travelers both in Europe and from China.

    Bluecode, ePassi, momo pocket, Pagaqui, Pivo, Vipps and Alipay are working towards adopting a unified QR code, marking a milestone in connecting Europe’s thriving yet fragmented mobile payment landscape. When fully realized, users of the six participating European digital wallets will be able to make QR code-based payments with their home apps to local merchants in 10 European countries where those apps are accepted. At the same time, merchants that already accept mobile payments via the six apps in their respective domestic markets will also be able to easily accept payments made by customers of the other countries covered by the collaboration. In addition, Alipay’s Chinese users can also make payments to merchants that accept these wallets.

    Helsinki-based ePassi and Oslo-based Vipps have started to prepare the roll-out of this QR code format for users across several Nordic countries, while the Spanish payment company MOMO, Portugal’s Pagaqui and Austria’s Bluecode intend to extend the collaboration further later this summer in their respective home markets. Built on the back of a similar partnership announced in December between two Nordic firms, Vipps and ePassi, and Hangzhou, China-based Alipay, this open-ended collaboration is expected to continue to expand into more European countries and companies in the future.

    The collaboration, the first of its kind in Europe, will bring together the six mobile wallet partners’ users, which are more than 5 million in total, and around 190,000 merchants in Europe, as well as a fast-growing number of travelers from China. In addition, as each of the participating firms grows the user base and merchant network, the growth is also beneficial to all of the collaborating firms’ merchants and users, respectively.

    The partnering firms have agreed to apply a compatible QR code format provided by Alipay, the world’s most-used app outside social apps. ePassi and Bluecode will offer technical services to the participating wallets to simplify the integration process among them.

    “With over 12 years’ experience, ePassi is already a mobile payments front-runner in QR code-based payments in the Nordic and selected European countries. We are proud and honored to be part of this unique collaboration of European payment wallets, and to support other partners with their integration as well,” said Risto Virkkala, CEO of ePassi.

    “It has always been our vison to enable European banks with a widely accepted European mobile payment offering”, said Christian Pirkner, CEO of Blue Code International. “As a payment solution provider, we naturally support this collaboration of European wallets agreeing on a technical format. Even more compelling that it is compatible with Asia’s leading lifestyle app Alipay.”

    The announcement came on the heels of Alipay activating the eight-year global partnership with UEFA in Porto, where the inaugural Nations League Final just concluded. “We feel honored to help promote a smart lifestyle and digital experiences in Europe, while continuing to connect more merchants with more Chinese tourists. We believe mobile payment is a universal language that can help connect people just as football does,” said Eric Jing, Chairman & CEO at Ant Financial.

    Alipay currently serves over 1 billion users with its Asia-based local e-wallets partners. Launched in 2004, Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app.

    In addition, Alipay’s technology is being used to enable over 200 Chinese financial institutions to improve efficiency and lower operational costs. Alipay’s in-store payment service covers over 50 markets across the world, and tax reimbursement via the app is supported in 35 markets.

    Nearly 60 per cent of overseas bricks-and-mortar merchants that adopted Alipay saw a subsequent growth in both foot traffic and revenue, according to a report by Nielsen earlier this year.

    “Momo were first to process payments via mobile devices in Spain six years ago, starting in Malaga. Since then, we’ve expanded to also help our merchants increase their sales by accepting QR payments from thousands of Chinese tourists via Alipay.” says Mariano de Mora, CEO of MOMO Group. “We are excited to see how this collaboration with other European payment wallets can bring millions of users to our merchant network here in Spain and offer our users hundreds of thousands of places to pay with their local momo app across Europe.”

    “This unique cooperation is a testament to how collaboration in Europe can simplify the market for businesses and users to create better outcome for everyone.” said Rune Garbog, CEO of Vipps. “We are extremely enthusiastic about new partners joining this collaboration, giving all our combined users broader possibilities for using their preferred mobile app also when travelling abroad.”

    “As a Portuguese company and a stakeholder in this project, Pagaqui rejoices in the choice of venue for this announcement, and is extremely proud to participate in such an ambitious and innovative undertaking”, says João Barros, CEO of Pagaqui. “As in football, European firms can be more successful when playing together as a team. This is a real game changer for businesses and users across Europe, and we are excited to see so many partners taking part in it.”

    Pivo, the largest mobile wallet in Finland with over 1 million registered users, is welcoming the collaboration and the benefits it will provide to all mobile wallet customers. “Interoperability will allow us to offer a simple and unified customer experience across services and points-of-sale internationally. The collaboration will create additional value for Pivo as a service platform, and it is a welcome initiative for the ecosystem and our customers,” said Masa Peura, CEO of Pivo.

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  • Alipay: Average Chinese tourist spending in Singaporehigher than in any other SEA country over Labour Day

    Alipay: Average Chinese tourist spending in Singaporehigher than in any other SEA country over Labour Day

    The data found that the number of Chinese visitors in Singapore over the Labour Day holiday period almost doubled from last year.

    In addition, the average Chinese traveler spent SGD 325 (RMB 1,611) in Singapore during the Labour Day holiday – higher than in any of the other SEA countries, and a 13% increase from the same period last year.

    Key Singapore-specific findings reveal:

    • Grocery and fresh food supermarkets, followed by department stores and fashion brands saw the highest growth among Chinese visitors during this period
    • The most popular merchants in Singapore were taxis (in-street and via taxi-hailing apps), airport merchants and resort merchants

    General findings reveal:

    • Average overseas spending per user on Alipay increased by nearly 11% to RMB 1,790 (SGD 361)
    • Spending was highest in Europe, the Middle East, and North Asia
    • In terms of the number of transactions, Thailand was the second-most popular destination for Chinese tourists
    • Malaysia and Singapore ranked seventh and ninth in terms of the number of transactions

    Key demographic findings reveal:

    • Chinese seniors are an up-and-coming tourism trend – transactions made by those born in the 1940s and 50s more than doubled, with average spending per user in this age group jumping to RMB 1,622 (SGD 327)
    • About 65% who used Alipay overseas during the Labour Day holiday were female
    • Transactions made by those born in the 2000s increased eight-fold, on average to RMB 506 (SGD 102) during the same period

    In Southeast Asia, tens of thousands of merchants already accept Alipay as a payment platform for Chinese tourists. An earlier joint study from research firm, Nielsen and Alipay found that more than 90% of Chinese tourists would use mobile payment to pay overseas if given the opportunity.

    Alipay has been working with various government bodies, financial institutions and businesses in Southeast Asian countries to further enhance guest experiences and enable seamless access to tourism attractions for Chinese visitors. As a result, they will be able to enjoy more fun in Singapore with faster and more secure mobile transactions through the Alipay smartphone app.

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  • 500 million users have joined Alipay Ant Forest initiative, planting 100 million trees

    500 million users have joined Alipay Ant Forest initiative, planting 100 million trees

    Alipay Ant Forest, an initiative that has inspired hundreds of millions in China to adopt a greener lifestyle and contribute to the environment.

    Since its launch in August 2016, Alipay Ant Forest has:

    • Attracted 500 million users to engage in low carbon emission activities on the platform and grow their virtual trees in the Alipay app.
    • The virtual trees, nourished by “green energy” originating from users’ green activities, have been turned into 100 million real trees planted in China’s most arid areas.
    • The trees planted cover a total area of 1.4 million mu (933 square kilometers), equivalent to 130,000 soccer pitches.

    Eric Jing, Chairman and CEO of Ant Financial said: “I am very proud of the popularity of Alipay Ant Forest, which embodies our belief that technology should be used for social good. We are grateful to our many users and partners who have helped plant 100 million trees and advance a shared vision of sustainable and inclusive development.”

    “Alipay Ant Forest is an open platform, where all of our stakeholders, including consumers, philanthropic institutions, and eco-system partners, can collectively explore and implement ways to harness technology for a sustainable future,” he said.

    A mini-program on the Alipay app, Alipay Ant Forest promotes a greener lifestyle and encourages users to engage in low-carbon activities, such as paying utility bills online and commuting by walking or cycling instead of driving.

    This behavior is counted and converted into virtual “green energy” that can then be used to grow virtual trees in Alipay Ant Forest within the Alipay app. With enough energy points, a virtual tree can be converted into a real tree and planted by Alipay Ant Forest and its philanthropic partners in areas suffering from desertification. In turn, this tree-planting initiative inspires users to further adopt low-carbon and environmentally-friendly lifestyles, forming a virtuous cycle.

    Here’s a video explaining how this works.

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  • Meet Alipay’s Western Expansion Partner: RiverPay

    Meet Alipay’s Western Expansion Partner: RiverPay

    Alipay is one of the dominant forces in Chinese mobile payments solutions, but its ultimate goal, like with any payments company, is global expansion. You’ve recently covered some of Alibaba’s expansion into the UK through their partnership with Barclaycard, but there’s an unknown partner I want to introduce you to that’s giving Alipay access to over 12,000 store locations and over 30,000 points of sale in the U.S., Canada and Europe.

    Meet RiverPay: Alipay’s authorized payment service partner that connects global merchants with over 1 billion Alipay users around the world, especially Chinese travelers abroad. (69% of whom used mobile payments last year, according to Nielsen.)

    All of RiverPay’s merchant customers are adopting Alipay as a payment option, including top luxury retailers like Saks Fifth Avenue, Hudson’s Bay, Dolce & Gabanna and Prada. With payments integration in less than two weeks and compatibility with over 80 percent of mainstream enterprise resource planning systems, RiverPay can help merchants adopt Alipay fast without interruption to cashiering systems.

  • Barclaycard partners with Alipay to help UK merchants increase sales from booming Chinese tourism

    Barclaycard partners with Alipay to help UK merchants increase sales from booming Chinese tourism

    Barclaycard, which processes nearly half of the UK’s credit and debit card transactions, today announced a new agreement with Alipay, the world’s leading payment and lifestyle platform, which will allow retailers to accept Alipay transactions in stores across the UK.

    Building on a successful pilot over the past two years, the new agreement will enable UK retailers to take full advantage of the growing volume and buying power of Chinese visitors. In addition to the UK’s 393,000 Chinese residents and 95,000 Chinese students, tourists from China represent an increasingly important customer segment for retailers. VisitBritain is expecting 483,000 visits from China in 2019, up 43 per cent on 2017, with Chinese visitors expected to spend more than £1 billion this year, up 50 per cent, moving it well into the UK’s top 10 tourism market. The increase in market size is also demonstrated by the fact that the number of Alipay users in the UK has doubled in the last year.

    By accepting Alipay, the world’s most-used app in 2018 outside of social apps according to App Anni, retailers will be able to capitalise on the growing appetite of Chinese tourists to use mobile payments over cash while abroad. According to a 2018 survey conducted by Nielsen, the vast majority (93 per cent) of Chinese tourists said they would likely spend more in a store that accepted mobile payments. In addition, among the merchants surveyed that had adopted Alipay, nearly 60 per cent said that they had clearly seen growth in both foot traffic and revenue[5].

    The new agreement will enable UK retailers to accept in-store Alipay payments without replacing their existing point-of-sale system, allowing them to take advantage of the boom in Chinese tourism without disrupting their existing customer experience[6]. Retailers will also benefit from being at the fingertips of hundreds of millions of highly-engaged Alipay users, who will be able to search for outlets near their location to find out details such as opening hours, directions, and whether there are any discounts available.

    Alipay serves over one billion users worldwide together with local e-wallet partners, and this new agreement offers its Chinese users travelling in the UK the familiar mobile payment and lifestyle experience they enjoy at home, as well as Alipay’s competitive foreign exchange rate.

    Feedback from retailers has been incredibly positive; Barclaycard is already in discussions with around 70 clients interested in becoming early adopters.

    Rob Cameron, CEO, Global Head of Payment Acceptance at Barclaycard, said:

    “Thanks to the significant investments we’ve made in our platform, our clients have access to a growing range of payment types, each of which can help them increase market share by meeting the needs of new customers.

    “Our new agreement with Alipay gives retailers a vital tool to help them seize the revenue opportunity posed by the growth of Chinese visitors to the UK. At the same time, Alipay users will benefit from a more convenient and familiar in-store payments process – enhancing their overall shopping experience.”

    Roland Palmer, Head of Europe, Middle East and Africa at Alipay, said:

    “Alipay is excited to announce that it will be working with Barclaycard to provide visitors from China with the mobile payment experience that they are already familiar with. Through this strategic partnership, Alipay will now be able to offer many more UK merchants the opportunity to connect and engage with a growing number of Chinese visitors. This is another step forwards in our vision to offer Chinese tourists a seamless travel and payment experience when travelling overseas.”

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  • Alipay Hong Kong promotes Smart Mobility to enable Boundless Living

    Alipay Hong Kong promotes Smart Mobility to enable Boundless Living

    As a fast emerging TechFin brand, AlipayHK has led and driven the adoption of the e-wallet in application in Hong Kong. Since the formation of Alipay Payment Services (HK) Limited (“APSHK”), the joint venture between CK Hutchison Holdings Limited (“CK Hutchison”) and Ant Financial Services Group (“Ant Financial”) in March 2018, the company’s flagship product AlipayHK has extended its coverage to 50,000 merchants and more than two million users. This year AlipayHK will focus on widening the e-wallets adoption across public transportation providers and expand its cross-border payment services by strengthening collaboration among merchants. Its overarching goal is for people in Hong Kong to enjoy the benefits of smart mobility and the convenience that comes with using its e-wallet.

    AlipayHK revealed the e-wallet’s new features, EasyGo, at the Smart Mobility, Boundless Living exhibition which marked the first anniversary of the company. Guests were amazed by the speed and convenience of using EasyGo to pass through tickets gates and AlipayHK for cross-border payments. By simply scanning a QR code users could also enjoy special currency exchange rates and the additional perk of a HK$20 Guangdong-Hong Kong- Macao Greater Bay Area discount on cross-border purchases during the promotion period.

    Special guests who officiated the ceremony included: Mr. Canning Fok, Group Co-Managing Director of CK Hutchison and Chairman of APSHK, Mr. Eric Jing, Chairman and CEO of Ant Financial, Mr. Howard Lee, Deputy Chief Executive of Hong Kong Monetary Authority and Ms. Jennifer Tan, CEO of APSHK.

    Smart Mobility expands local coverage and goes global

    Smart Mobility is an important initiative of AlipayHK to drive the development of Smart Cities. As part of this, AlipayHK is widening the adoption of smart mobility solutions to a range of public transport providers. For example, in January it launched EasyGo on a minibus line and AlipayHK will now be extending this service to other minibus routes and transportation providers.

    Smart Travel is another major initiative for AlipayHK as part of its strategy to offer Hong Kong people a premium consumption experience when they travel overseas. Last month, AlipayHK launched its innovative connection service across the Greater Bay Area which covered popular shopping destinations, as well as essential services such as medical and education and provided a more convenient experience for people living in and traveling to the Greater Bay Area. When travelling to Japan, a popular destination for Hong Kong travelers, AlipayHK users can now use their e-wallets in the Daimaru Tenjin store in Fukuoka and the service will soon expand to the whole country. AlipayHK aims increase the coverage of this service to other retailers around the world so Hong Kong people can enjoy the convenience they experience from their e-wallets at home, and also when they travel overseas.

    Mr. Canning Fok said, “It is encouraging to see such a growth in the number of AlipayHK users in only a year. AlipayHK was the first e-wallet to become an official partner of the MTR Corporation and this disrupted the traditional payment methods for public transportation. As the Greater Bay Area develops, AlipayHK is poised to capture the opportunities from cross-border payment services among the nine cities within its cluster with the aim extending our coverage to the whole country. I hope the continuous development of AlipayHK will bring more innovative retail experiences to users as we broaden its application and user base across the globe.” Mr. Eric Jing said, “Hong Kong is a key market for Alipay’s globalization. We will continue to support AlipayHK by bringing the best products and technology know-how to Hong Kong, in order to create unique value for users and merchants. In the future, we will also connect e-wallets from other regions around the world with merchants in Hong Kong, enabling them to benefit from mobile payment.”

    Ms. Jennifer Tan said, “As an e-wallet provider in Hong Kong, AlipayHK always aims to pioneer positive change for Hong Kong citizens in order to make their lives easier. We would like to thank people in Hong Kong for their support. Without it, we would not have achieved such an impressive growth in users and merchants. We will continue to further develop solutions for public transportation service and cross-border payment to enable smart mobility and living.”

  • Cashless-payments will be launched soon in Japan

    Cashless-payments will be launched soon in Japan

    More than 50 Japanese banks are joining Tokyo bank J-Coin to set up a cashless payment system developed by Mizuho Financial Group, to be launched late next month. The new service will initially be rolled out to existing account holders at regional banks. Mizuho Bank will initiate the service on March 1, with regional banks to follow after a period of around three weeks.
    Around half of Japan’s regional banks are participating in the scheme at a time when the Japanese government is advocating cashless payments in advance of the 2020 Tokyo Olympics and Paralympics.

    J-Coin payments will be processed via an app using a QR barcode, a phone number or a Line messenger personal ID number. Unlike the prepaid smart cards commonly used in Japan, J-Coin allows transactions between individuals without the need for dedicated scanning devices at point of sale.

    A number of major retailers, including East Japan Railway Co and FamilyMart, have already indicated interest in adopting the system.

    Observers have noted that partnerships with international cashless payment providers such as Alipay could see J-Coin become a preferred method of payment among visitors to Japan.

    The Japanese government, aiming to double digital payments to 40 per cent of all transactions by 2025, will offer rebates of 2 per cent of convenience-store cashless purchases and 5 per cent of cashless purchases at other small- or medium-sized stores for nine months after its consumption tax is raised from 8 per cent to 10 per cent in October this year.

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  • Alipay is available at Walgreens’stores now

    Alipay is available at Walgreens’stores now

    Chinese consumers visiting the U.S. can now use Alipay at Walgreens, one of the largest drugstore chains in the country. Whether traveling for business or pleasure, Alipay users can shop at 3,000 locations in major cities such as New York, San Francisco and Las Vegas to start, the companies said. The number is expected to reach 7,000 by April. Walgreens operates about 9,560 drugstores in all 50 U.S. states, Washington, D.C., and other U.S. territories.

    About 4 million users of the mobile-payments app are in the U.S. annually, according to Alipay, which is owned by Alibaba Group affiliate Ant Financial. The service offers them a quick and easy way to pay for goods while overseas, one that is already ubiquitous in China and lacks the higher foreign-transaction fees typical of credit cards.

    “Walgreens is focused on making shopping more convenient for our customers,” including Chinese consumers, said Walgreens President of Operations Richard Ashworth, including Chinese consumers. “Not only can they buy our products via our dedicated store on Alibaba’s Tmall Global marketplace, but they will now also be able to shop in the U.S., using Alipay as they would in China.”

    In September, parent company Walgreens Boots Alliance made its first move into China’s consumer market by launching a flagship store on Alibaba Group’s dedicated cross-border e-commerce platform, Tmall Global. The direct-to-consumer channel added to a wholesale and retail pharmacy business that WBA had already been operating in China.

    According to China’s Ministry of Tourism, Chinese travelers took about 140 million trips abroad last year. In an effort to capture that business, Ant Financial has been working with merchants across the globe to make Alipay available overseas to its more than 1 billion users (which includes users of its joint-venture partners’ apps). Alipay currently is available in over 40 countries and regions. Last year, Alipay added Germany’s Oktoberfest, the world’s largest gingerbread city in Norway and San Francisco’s Pier 39 to its list of merchant partners, all of which are popular destinations for Chinese tourists.

    “This is a key strategic partnership for achieving awareness in the U.S.,” Yulei Wang, general manager of Alipay North America, said of the Walgreens partnership. “We are excited to partner with a company that has been trusted across America since 1901, and is constantly evolving to provide more Chinese consumers a seamless and familiar way to pay.”

  • Alibaba Group sales jumps high

    Alibaba Group sales jumps high

    Alibaba Group sales soared 41 per cent in the December quarter as its customer based neared 700 million. The Chinese company’s turnover for the three months reached US$17.057 billion and its net income attributable to shareholders $4.807 billion. “Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of nearly 700 million consumers across retail, digital entertainment and local consumer services,” said CEO Daniel Zhang. “Our growth is also driven by the power of Alibaba’s cloud and data technology that helps expedite the digital transformation of millions of enterprises.”

    Alibaba group sales from core commerce increased 40 per cent to $14.958 billion, while the cloud-computing division posted 84 per cent growth, turning over $962 million. The digital media and entertainment division achieved 20 per cent growth to reach $944 million.

    In a statement, Alibaba said its Taobao platform achieved “robust user growth and enhanced engagement”. Last December, its China retail marketplaces had 699 million mobile monthly average users, representing a quarterly net increase of 33 million. The annual active consumers on its China retail marketplaces was 636 million for the 12 months ended December 31, compared to 601 million for the 12 months ended September 30 last year, “reflecting successful user acquisition programs, such as referrals through the Alipay app”.

    More than 70 per cent of the increase in annual active consumers was from third-and-lower tier cities.

    Tmall thrives

    Alibaba said GMV on its Tmall business grew 29 per cent year on year in the December quarter, outpacing the industry.

    “This robust growth was driven by strength in the fast-moving consumer goods (FMCG), apparel and home furnishing categories,” the company said.

    During the quarter, Tmall signed up new brands to the platform including Valentino, Ermenegildo Zegna, Stuart Weitzman and Sergio Rossi which opened flagship stores and joined the Tmall Luxury Pavilion.

    Meanwhile, Alibaba’s proprietary grocery retail chain Freshippo (formerly Hema) continued to expand its footprint, “optimise its stores and introduce new initiatives that improve customer experience”. As of December 31, there were 109 self-operated Freshippo stores in China, primarily located in tier 1 and tier 2 cities, which continued to achieve “robust same-store sales growth” through the quarter.

    ‘Robust’ Lazada growth

    Alibaba’s Southeast Asian e-commerce platform Lazada achieved what the company described as “robust growth” in GMV. The company upgraded Lazada’s technology, which resulted in boosting the number of active users and achieved greater user engagement on Lazada’s mobile app.

    “We continue to invest resources to integrate Lazada’s business and technology operations into Alibaba with the aim of building a strong foundation for us to extend our offerings in Southeast Asia.”

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  • Tourists devote a quarter of budget to shopping

    Tourists devote a quarter of budget to shopping

    Retail shopping continues to be the largest expense for tourists from China, according to a survey from Nielsen and Alipay, accounting for almost a quarter of total spend. The 2018 trends of Chinese mobile payment in outbound tourism survey revealed that retail spending took up 24.6 per cent of Chinese tourists average spend, followed by accommodation, dining and tourist attractions.

    Interestingly, the report found that Chinese millennials are no longer the single most dominant user of mobile payments.

    “In 2017, 55 per cent of Chinese tourists born between 1960-1979 used mobile payments while travelling overseas – significantly lower than the proportion of millennial tourists,” the report reads.

    “In 2018, the usage rate rose to 68 per cent, almost equalling their younger peers.”

    Average budget for the typical Chinese tourist increased 15 per cent to AU$9,382 over the year, and a familiarity with mobile payments drove increased spend, with 56 per cent of surveyed merchants claiming improved sales after adopting mobile payment system Alipay.

    However, a study by Coresight research in October 2018 found that, while Chinese tourists were travelling more often they were spending around 18 per cent less in the retail environment – a figure driven by a recorded 24 per cent decline in average shopping trip spend.

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