During the recent Chinese New Year break, Ant Group's Alipay witnessed a notable resurgence in China's outbound and inbound tourism spending.
Alipay's cross-border mobile payment technology, spanning over 8 million merchants across 70 countries, surpassed 2019 transaction levels by 7%. Popular destinations such as Hong Kong, Japan, Macao, Thailand, and Malaysia witnessed increased spending, with a shift towards diverse experiences and local cuisine.
Particularly, Chinese tourists show more interest in exploring off-the-beaten-path destinations, participating in cultural events, trying local dishes, and engaging in outdoor adventures.
Chinese travellers, leveraging Alipay's convenience, explored unique activities, contributing to a surge in in-town transportation options. The success of this initiative is attributed to strengthened socio-economic connections, new visa-free policies, and improved international flight capacities.
Alipay's AI-driven features has also gained popularity during the holiday season in China, with users engaging in personalised digital red packets.
Intra-Asia flows among Alipay+ partner e-wallets also experienced substantial growth, indicating a preference for seamless payment experiences. Furthermore, international e-wallets and card-enabled Alipay accounts expanded significantly in China, showcasing the increasing influence of mobile payments in shaping Chinese travellers' preferences.
As the trend towards mobile payments continues to gain traction across age and income groups, Douglas Feagin, Senior VP of Ant Group, emphasises the importance of ongoing partnerships in driving further growth throughout 2024.