Alipay's average overseas spending per user grows 11 per cent to RM1,100 in SEA region
Malaysia is the seventh largest market worldwide for Chinese tourists overseas spending, moving up from ninth place year-on-year, ahead of Singapore for the first time since the inception of Alipay in May 2017.
The payment and lifestyle platform Alipay said the transactions were recorded over China’s Labour Day holiday period between May 1 and May 3 this year.
It noted that Malaysia saw a four per cent increase in average per-capita spend this year at about RM660, thanks to a mobile and online payment platform offered by Ant Financial.
As one of the countries charting the highest growth in merchant visits, local merchants saw an 85 per cent increase in Chinese tourist foot traffic, with convenience and department stores among the most popular nationwide.
Other than that, coffee shop chains alongside personal care and beauty chains saw a surge in transactions.
“Nearly two years after we began operations in Malaysia, the country continues to grow as a popular destination for Chinese tourists.
“The growth in transactional volumes and average spend over this holiday period highlights the Chinese preference for the same payment convenience they can enjoy back home,” said Alipay cross-border business for South and Southeast Asia general manager Cherry Huang said in a statement today.
Huang added that local merchants can harness the benefits from integrating Alipay into their businesses to better reach Chinese tourists.
According to Nielsen, over 90 per cent of Chinese tourists are more likely to purchase goods or services, while travelling if mobile payment was an option.
Alipay said Malaysian merchants embracing its platform can leverage on the opportunities to better serve Chinese tourists.
About three million Chinese tourist arrivals in Malaysia last year compared to 2.2 million recorded in 2017.
Alipay said it had been working with various government bodies, financial institutions, and businesses in Southeast Asian countries to further enhance guest experiences, while enabling seamless access to tourism attractions for Chinese visitors.
Alipay’s average overseas spending per user grew 11 per cent to RMB1,790 (RM1,100) in Southeast Asian countries including Thailand, Malaysia, and Singapore.
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