KUALA LUMPUR, Jan 30 (Bernama) -- Alipay and AlipayHK have registered huge rebounds in cross-border transactions between Jan 21-27, the seven-day-long public holiday in the Chinese mainland as China relaxed its travel restrictions, celebrating the Year of the Rabbit.
Between Jan 21 and 26, the year-on-year (yoy) growth of outbound transaction volumes by Alipay users has surged by 150 per cent, with the Hong Kong and Macao S.A.R.s being the most popular destinations for mainland consumers, based on the number of transactions during this Chinese New Year period.
“Specifically, the number of transactions through Alipay from Chinese mainland tourists to Macao increased by 100 per cent, while that from Chinese mainland tourists to HongKong increased by nearly 70 per cent,” said Alipay+ in a statement.
Alipay currently serves more than one billion users and has transformed from a trusted payment tool to a digital open platform over the years.
Besides Hong Kong and Macao, Southeast Asian countries have reclaimed their importance as one of the most popular destinations for outbound Chinese mainland travellers.
The top five Southeast Asian markets with the highest transaction volume by Alipay users during the first six days of the holiday were Thailand, Malaysia, Singapore, the Philippines and Cambodia.
The most Alipay cross-border payments took place with merchants such as street vendors and convenience stores, and the highest average spending was seen at duty-free shops across various markets.
On Jan 8, China announced its first steps to reduce travel restrictions between the mainland and Hong Kong, lifting quarantine requirements that were in place for almost three years, thus Chinese New Year public holiday witnessed a surge in cross-border travel between the mainland and overseas markets.
AlipayHK, the most popular e-wallet in Hong Kong, with 3.3 million active users, saw transactions in the mainland and Macao jump 18 times from Jan 21 to 24, compared to the same period last year.
The number of AlipayHK users that completed a transaction in the mainland and Macao also soared 15 times yoy in the same period.
Both Alipay and AlipayHK are e-wallet partners of Alipay+, an Ant Group-owned provider of global cross-border digital payment and marketing solutions, which connects merchants with multiple e-wallets and payment methods.
-- BERNAMA
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