AUB expands Alipay+ cross-border digital payments to 5,000 merchant stores | The Asian Banker
Sunday, 3 March 2024

AUB expands Alipay+ cross-border digital payments to 5,000 merchant stores

5 min read

Asia United Bank (AUB), a publicly listed universal bank in the Philippines, is enabling more local merchants to accept cross-border digital payments from Hong Kong SAR, South Korea, and Malaysia via Alipay+ and AUB PayMate.

With the market expansion, travellers can now pay using their home country’s e-wallets for purchases related to tourism, retail, food and beverage (F&B), entertainment, and attractions in the Philippines. This includes e-wallets AlipayHK in Hong Kong SAR; Kakao Pay in South Korea; and Touch ‘n Go eWallet in Malaysia; in addition to Alipay in Chinese mainland, which has been accepted by Filipino merchants since 2017.

At present, AUB PayMate has enabled Alipay+ acceptance in over 5,000 stores in Manila and Cebu, two of the most popular travel destinations in the Philippines. AUB PayMate is AUB’s all-in-one digital payment acceptance product that enables all types of merchants to accept digital payments — whether local or foreign e-wallets, bank payments, and cards — from their customers.

SSP Mactan, a leading operator of F&B outlets in travel locations worldwide, is among the first in the Philippines that used Alipay+, including all its stores in Mactan-Cebu International Airport (MCIA), one of the country’s busiest travel hubs. From mid-September to mid-November, tourists arriving at MCIA will be welcomed by AUB, SSP Mactan Cebu, and Alipay+ and enjoy a more seamless payment experience and exclusive promotions at Alipay+-enabled merchants in the airport.

Mags V. Surtida, senior vice president and cards and acquiring group head of AUB, said: “We see a resurgence of inbound personal travels this year so our partnership with Alipay+, the first in the Philippine banking industry, will give a much-needed boost to merchants serving the tourism sector. Expect more foreign wallets to be added under this unified QR code.”

The Department of Tourism (DOT) has been stepping up efforts to digitalise tourism services across the country to boost the sector. As of June 2023, 2.67 million tourists have visited the country, with South Koreans topping the list of international visitors and Malaysia ranking in the top 10, according to DOT figures.

Cherry Huang, general manager of Alipay+ offline merchant services at Ant Group, said: “We are strengthening our partnership with AUB, our pioneering bank partner in the Philippines, to enhance the travel experience for tourists as they return to visit. Digital payments have become more important than ever, particularly for international visitors who have become so used to using their e-wallets and bank apps for day-to-day purchases. Through our local partners, we aim to help more businesses integrate Alipay+, creating a positive digital ecosystem, and driving more opportunities for partners, and merchants while making it more convenient and seamless for travellers.”

Alipay+ is a suite of global cross-border digital payments, marketing and digitalisation solutions operated by Ant Group, which enables local businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach more than 1.4 billion regional and global consumers, through one-time integration and simple technical adaptation. Alipay+ enables digital payments from e-wallets, bank apps and buy-now-pay-later (BNPL) apps to be accepted by millions of merchants globally within the Alipay+ ecosystem. Other than the Philippines, it is also widely accepted in popular travel destinations including the Chinese mainland, Macao SAR, Singapore, Malaysia, Thailand, Japan and South Korea among others.

Re-disseminated by The Asian Banker

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