Mpay partnership with Alipay+.
Macau-based
e-payment platform mPay is set to expand beyond Macau to over 40 countries in
partnership with Alipay+. The expansion is expected to take place between
September and December 2023. The partnership will cover countries such as the
United Arab Emirates, the United Kingdom, Switzerland, Australia, New Zealand,
Qatar, Singapore, Malaysia, South Korea, Japan, the Philippines, Thailand, and
the United States of America, as well as the 24 countries that make up the
European Economic Area.
However, the cross-border payment
function will only be available to mPay users who are Macau residents and have
acquired a user status on the mobile app of JR (Junior), Intermediate-3A, and
Advanced-3B levels. Payments abroad will be completed by switching the Alipay+
overseas payment code on mPay when seeing the Alipay+ logo at merchants in
these countries. The Chairman and CEO of Macau Pass,
which owns mPay, Sun Ho, said that the demand for electronic payments,
especially cross-border mobile payments, is growing rapidly. He added that mPay
and Alipay+ aim to create a smart e-wallet that allows Macau residents to
travel globally and solve the issues they encounter with payment while
traveling overseas. The CEO also noted that international
payment services that provide consumers with a fine global travel consumption
experience bring more cross-border businesses and tourism growth opportunities
for global merchants.
He said that mPay will continue to expand electronic
payment, lifestyle services, and marketing technology services to develop more
open and diversified intelligent payment business scenarios. The acquisition of Macau Pass by
AGTech Holdings in March 2022 for HKD778 million has led to several changes in
the e-payment platform. The platform now benefits from a wider range of
services provided through the Alipay system. With the optimization of the
entry-exit management policy of the Macau SAR government, the increase in
searches for outbound flights and accommodation in overseas countries indicates
that the outbound travel demand of Macau residents continues to recover in
2023, and cross-border consumption is expected to surge.
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