Data from Ant Group shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the Covid-19 pandemic, especially in cross-border tourism.
Through the Alipay+ cross-border mobile payment technology solutions, Chinese travelers may pay for goods, food and beverage, recreation and entertainment at over 8 million merchants in over 70 countries and regions, all from their familiar home app Alipay, with no need to change money or carry cash. Alipay also offers in-app instant tax refunds, as well as transparent and competitive exchange rates.
“With its use spreading across age and income groups, mobile payment is becoming an increasingly important promoter of local and cross-border commerce in Asia and beyond, ” said Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+. “We expect to grow our partnerships with the payment industry leaders, national tourist agencies and merchants in 2024 to generate more growth.”
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