Travellers to China have learned to enjoy a cashless world utilising cross-border mobile payment options. Recently, Alipay+ revealed three trends shaping the future of tourism and how it will benefit global merchants and the industry.
“Tourism’s importance to economic growth makes it essential for the industry to pursue innovation and new partnerships so that more people can benefit. Our Alipay+ solution has evolved to include cross-border payments, destination marketing and digital lifestyle services. We have seen significant adoption as more consumers embrace technology to enhance their travel experience,” said Douglas Feagin, president of Ant International.
Travellers prefer their home payment methods to the benefits of merchants abroad
Due to the rise in transactions globally, tourists are more likely to feel at ease using their familiar home payment app when going abroad and learning how to pay like a local. More than three times as many transactions and three times as many users used Alipay+ payment partner apps when travelling overseas in the first nine months of 2024.
In Malaysia, transactions increased by 142% on average each quarter during the first nine months of 2024, mostly as a result of national QR programmes like PayNet’s DuitNow QR. Due to the ease of transactions, tourists can now easily visit smaller cities like Kota Kinabalu, Selangor and Penang, which greatly strengthens local economies.
Travellers spend more, with a shift towards localised experiences
Asian travellers are visiting more regional destinations, with the highest number of Alipay+ transactions recorded in the Chinese mainland, Japan, Thailand, Macao SAR and South Korea. Since the Covid pandemic, travel habits have also changed. Travellers tend to spend more on local experiences and less on shopping.
Alipay+ spending has increased by 50% for attractions and 80% for food and beverage retailers. In keeping with the current trend to travel more independently, spending on transportation via Alipay+, including ride-hailing, taxis and trains, has surged by 120%.
All-in-one payment apps are reshaping travel habits
Asian travellers are increasingly using all-in-one payment applications that offer more than just payments. TrueMoney from Thailand has seen a tenfold increase in transaction volume using Alipay+. Even though Asia leads the world in mobile payments, other regions are also seeing a spike in demand for mobile solutions, as seen by the expansion of interoperable systems like Bluecode throughout Europe and e-wallets like Tinaba in Italy.
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