Alipay+ has reported a significant increase in spending by Chinese tourists in Malaysia during the Chinese New Year (CNY) holiday period. Data from Alipay+ shows that Malaysia ranked as the fifth most popular destination globally for Chinese tourists during CNY 2024, with spending in the country doubling compared to CNY 2019 and increasing more than tenfold compared to 2023.
Since November 2023, Alipay+ has partnered with over 1.9 million DuitNow QR merchants in Malaysia, providing tourists with greater convenience to pay via their home e-wallets. This initiative has been instrumental in promoting cross-border commerce and enhancing the tourism experience for Chinese visitors.
Alipay+ has collaborated with top merchants in Malaysia across various industries, including retail, F&B, and everyday conveniences, to introduce exclusive CNY campaigns. These partnerships have contributed to the significant increase in spending by Chinese tourists in Malaysia during the festive season.
Alipay+ Offline Merchant Services, General Manager, Dr. Cherry Huang emphasized the growing importance of mobile payment in promoting local and cross-border commerce. Alipay+ has enabled 13 international e-wallets and bank apps to be used in Malaysia, providing added convenience to tourists and growth opportunities to local merchants.
The partnership between Alipay+ and PayNet has facilitated seamless QR payments at DuitNow QR merchants’ touchpoints across Malaysia. Since its launch, Alipay+ has significantly contributed to inbound cross-border transactions, with the number of average daily transactions increasing by 2.5 times in February 2024 compared to December 2023.
PayNet, Gary Yeoh, Chief Commercial Officer highlighted the transformative impact of the partnership on economic growth and tourism experience in Malaysia. He expressed the commitment of PayNet to innovate and expand services to support the dynamic needs of tourists and merchants, reinforcing Malaysia’s position as a top-tier global destination.
The robust recovery and diversified destinations for outbound Chinese tourists using Alipay+ reflect the platform’s growing influence in facilitating cross-border travel and commerce. With new partnerships and increased travel, total cross-border spending by Alipay+ users in the region has witnessed significant growth, particularly during the CNY holiday period.
In addition to traditional activities, Chinese tourists are increasingly seeking immersive and unique local experiences during their travels. This trend has led to increased spending on food and beverage, as well as exploring off-the-beaten-path destinations.
Overall, the partnership between Alipay+ and PayNet, along with the growing adoption of digital payments, is driving economic growth and enhancing the tourism landscape in Malaysia.
