Ant International has seen a significant surge in cross border digital payments in the first nine months of this year, indicating a highly successful take-up of the technology that aims to make travel experiences more seamless.
Alipay+, Ant International’s cross-border mobile payment platform, reported the number of travellers using their home payment apps abroad has tripled, reflecting the growing role of digital technology in shaping travel experiences.
The technology allows travellers to use their familiar home payment apps while overseas, and now connects 1.6 billion consumers to more than 90 million merchants across 66 markets.
“People want to use their home wallet or familiar home digital interface when they travel because they’re more comfortable with that. They’re more trusting of it, and it gives them much better content for what they’re actually looking for,” Douglas Feagin, president of Ant International, told TTG Asia on the sidelines of the 2024 WTTC Global Summit in Perth.
As of October 2024, Alipay+ supports over 30 payment partners and has actively expanded merchant coverage, particularly through initiatives like Malaysia’s PayNet DuitNow QR code scheme. PayNet DuitNow has seen a 142 per cent quarterly increase in Alipay+ transactions since January. The growth has driven increased travel to smaller cities and “driving significant growth” in destinations like Kota Kinabalu, Selangor and Penang.
The trend also means that smaller merchants, who may not have the resources for traditional advertising, can reach global travellers through its destination marketing tools.
“Very small merchants may not have an advertising budget to promote themselves on billboards, big trade publications or otherwise – but through our digital interface and destination marketing programs, they can showcase their offers to customers from around the world using their digital wallets.
“We see this as a holistic solution where customers get what they want, while the merchants have a chance to reach new, global customers. Importantly, it’s an inclusive approach that benefits businesses of all sizes,” explained Feagin.
The company also reported that its OTA partners have seen a doubling of transactions and it is expanding its network to include hotels, attractions, and other travel-related services.
Alipay+ transaction records also confirm the trend of travellers spending more overall post-lockdown, shifting away from traditional shopping sprees and focusing more on local experiences. Food and beverage transactions increased by 80 per cent while attractions attracted a 50 per cent increase on spending. Spending via Alipay+ on transportation such as ride-hailing, taxis and trains increased by 120 per cent, in line with recent trends to explore destinations more independently.
Apart from cross-border payments, Alipay+ has introduced a range of digital lifestyle services and destination marketing tools.
Its A+Rewards platform targets tourism boards and merchants to boost the visibility of local attractions and services even before travellers arrive. In South-east Asia, where Alipay+ is widely used, claimed destination vouchers from A+Rewards campaigns climbed by 53 per cent in 2024.
Alipay+ partner apps also make possible integrated merchant mini programmes and immediate tax refunds at shops, providing a smoother and more frictionless travel experience for users.
As for further growth plans, Feagin said the company will need to meet the critical challenge of prioritisation.
“With the global tourism market so vast, we’re focusing on key travel corridors first, before broadening our reach. Our open approach supports diverse offers and destination marketing programmes and over the next six to 12 months, we’ll be introducing even more initiatives to enhance these capabilities.”
Alipay+ payment partners include payment apps from Asia’s digital giants such as China’s Alipay, Malaysia’s Touch ‘n Go eWallet, Singapore’s OCBC Digital app, and Thailand’s TrueMoney.
