Trends
Ant eyes Europe and US for its Alipay+travel payment service
Chinese financial company Ant Group is looking to expand the global reach of its cross-border mobile payments service, Alipay+. Alipay+ in Japan Unit president Douglas Feagin said in Tokyo on Tuesday that Ant International aims to considerably boost the number of partner wallets supported by Alipay+…
Headline
Chinese financial company Ant Group is looking to expand the global reach of its cross-border mobile payments service, Alipay+. Alipay+ in Japan Unit president Douglas Feagin said in Tokyo on Tuesday that Ant International aims to considerably boost the number of partner wallets…
Context
Chinese financial company Ant Group is looking to expand the global reach of its cross-border mobile payments service, Alipay+. Unit president Douglas Feagin said in Tokyo on Tuesday that Ant International aims to considerably boost the number of partner wallets supported by Alipay+ this year, possibly by more than 10, according to the South China Morning Post.
Evidence
Pending intelligence enrichment.
Analysis
Fragin also hopes to achieve a double-digit percentage jump in international merchants served by Alipay+ this year. The company’s strategy is to become popular in all Asian countries and then expand to Europe and the United States. In Japan, Alipay+ has been expanded to support 16 Asian mobile wallets, allowing travelers from Hong Kong, Macau, Thailand, the Philippines, and Malaysia to make purchases in Japan using the payment apps at home, Feigin said. As mentioned by Fragin, Alipay+ currently accounts for 10% of total spending by Japanese tourists.
Key Points
- The company’s goal is to add more partner wallets supported by Alipay+ and achieve double-digit percentage growth in partner merchants.
- The company’s strategy is to “fill out the coverage” in all Asian countries and then expand to Europe and the United States.
Actions
Pending intelligence enrichment.
