FinanceVietnam2020

BCEL and Wallyt partner to enable Alipay and WeChat Pay acceptance in Laos

 Wallyt, announced a strategic partnership to offer Chinese mobile wallet solutions featuring WeChat Pay and Alipay to merchants in Laos. Through the partnership, BCEL customers will now able to accept Chinese mobile wallet WeChat Pay and Alipay for optimizing and growing business with Chinese consumers. Now, WeChat Pay and Alipay users can enjoy convenient mobile transactions at over 10,000 merchants across supermarkets, malls, hotels, and tourist attractions in Laos. The partnership presents a huge opportunity for both companies. According to Tourism Marketing Department, Ministry of Information, Culture and Tourism, the number of visitors from China was increased by 26% to 800 thousand, and China has become the third largest source of tourists to Laos.

It continues to grow rapidly. A survey of Nielsen shows, the outbound Chinese tourism consumption averaged USD 5,565 per person, and 65% of Chinese tourists paid for their expenses via mobile payment. The launch of WeChat Pay and Alipay, only allows the local merchants to provide a seamless checkout experience for Chinese customers who expect the same payment experience overseas, but also capitalize on the marketing opportunities to attract more Chinese customers. Beside WeChat Pay and Alipay, Wallyt also has full experience to integrate various of local and international payment methods, such as FPS of Hong Kong, Philippines Gcash, south-east Asia supper app GrabPay, and many more on the way. Based on the partnership, BCEL and Wallyt will work together to integrated more local mobile payment to meet the basic requirement of local merchants and user. Merchants will easily accept multiple local and international QR payment apps with a single device, and get the payment not only form China, but Philippines, Indonesia, the whole south-east Asia, even the World in a near future. Further to the launch of the aggregated payments platform in Laos, Wallyt also announced its expansion to 48 markets all over the world, which includes United States, Canada, United Kingdom, France, Germany, Australia, New Zealand, Japan, Singapore, Philippines, Indonesia, and sustained its lead in spearheading the adoption of cross-border mobile payments.

Re-disseminated by The Asian Banker

Diary of Activities
Wealth and Society 2019
06 December 2019 | China
Finance Vietnam 2020
13 February 2020 | Vietnam