Alipay transactions by Chinese tourists in SG nearly double in Q1

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The total transaction value of Chinese tourists in Singapore using Alipay nearly doubled in Q1 2023 compared to Q4 2022, as China reopened its borders and resumed group tours to the city-state.

High-end brands such as LVMH, Chanel, and Hermes, as well as shopping malls like Marina Bay Sands, ION Orchard, and Takashimaya saw the most transactions, according to a statement.

Cherry Huang, general manager of Alipay+ offline merchant services, said local brands and merchants partnered with Alipay to enhance their offerings for Chinese travelers, such as giving out deals, promotions, and membership benefits.

The company has launched the Alipay+ D-store solution, which helps offline merchants go digital and enhance their omnichannel solutions.

The Singapore Tourism Board anticipates Chinese tourist arrivals in 2023 to be between 30% and 60% of the about 3.6 million annual visitors the city-state had before Covid-19.

Alipay and Alipay+ both belong to Ant Group. Alipay offers e-wallet payment solutions while Alipay+ provides global cross-border digital payments through multiple e-wallets and payment methods.

See also: Behind Ant Group’s revived SEA ambitions

Note: This article was written with the help of AI. Don’t worry, humans were still involved in producing this story.