Title: Boosting Payment Convenience for Outbound Tourists, Ant Group Drives Inbound Consumption Growth

In recent years, a series of Chinese government policies aimed at promoting inbound tourism have led to a steady increase in the number of foreign visitors to China. At the same time, under the guidance of the People's Bank of China (PBOC), domestic institutions have continuously rolled out initiatives to improve the payment convenience for foreigners visiting China, further driving the growth of inbound consumption

In recent years, a series of Chinese government policies aimed at promoting inbound tourism have led to a steady increase in the number of foreign visitors to China. At the same time, under the guidance of the People's Bank of China (PBOC), domestic institutions have continuously rolled out initiatives to improve the payment convenience for foreigners visiting China, further driving the growth of inbound consumption.

Alipay: Significant Growth in Transaction Volume and Number for Outbound Tourists

Alipay data shows that in March 2024, the cumulative transaction volume made by foreign visitors using Alipay in China increased by nearly 10 times year-over-year, while the number of transactions surged by nearly 8 times. The number of active users also increased by nearly 6 times. This indicates a strong demand from foreign visitors for Alipay's services, and a significant improvement in payment convenience.

Ant Group's "External Access for Internal Use" Solution: 175 Million Overseas Wallet Users Scan Codes for Direct Payment

Since March 2019, Ant Group's implementation of the "External Access for Internal Use" solution has introduced ten overseas wallets from seven countries and regions, including Alipay Hong Kong, Malaysia's Touch 'n Go eWallet, South Korea's Kakao Pay, Macau's MPay, Mongolia's HiPay, Singapore's Changi Pay, Singapore's OCBC Bank, South Korea's Naver Pay, South Korea's Toss Pay, and Thailand's TrueMoney. Over 175 million overseas wallet users in Southeast Asia and East Asia can now scan codes and pay directly at merchants in China, supporting both QR code scanning and being scanned.

"Foreign Card Binding": Foreign Tourists from Nearly 200 Countries and Regions Use Alipay

As of March 2024, foreign visitors who bind their international bank cards to the Alipay app after entering China ("Foreign Card Binding") come from nearly 200 countries and regions, with South Korea, Malaysia, Singapore, the United States, Japan, Thailand, Germany, Australia, the United Kingdom, and Indonesia being the top ten source countries. With "Foreign Card Binding", foreign tourists can easily use Alipay for payments in China without carrying cash or exchanging currency.

PBOC Support: Two Solutions for Foreigners' Inbound Payments

With the guidance and support of the PBOC and the State Administration of Foreign Exchange (SAFE), Ant Group collaborated closely with UnionPay Network, Bank of China, Industrial and Commercial Bank of China, and overseas wallet partners to become the first in China to obtain two sets of solutions for foreigners' inbound payments in 2020. These include "binding overseas bank cards after downloading the Alipay app" (Foreign Card Binding) and "directly using overseas e-wallets to scan Alipay QR codes" (External Access for Internal Use). These two solutions effectively meet the mobile payment needs of foreign tourists in China.

Enhanced Payment Services for Seniors and Foreign Visitors to China

Alipay is actively responding to relevant policy deployments and continuously optimizing and enhancing payment services for seniors and foreign visitors to China. On the basis of optimizing payment channels for foreign visitors and enriching usage scenarios, Alipay has pioneered the launch of a small-amount no-authentication function and has raised and optimized transaction limits for foreigners. Alipay has also enriched its digital services, launching new functions such as 16-language translation and a "One-Code-Pass" for overseas wallet riders.

Payment Service Guarantee during the Canton Fair

The "Canton Fair period" has recently begun. To better accommodate foreign visitors, Ant Group has proactively participated in the payment service support for the Canton Fair, providing guidance through setting up new service desks, offering service guides, and other measures. Alipay will also continue to strengthen publicity and guidance within and outside the Canton Fair exhibition halls and in the core commercial areas of Guangzhou. Furthermore, Alipay has joined hands with international card organizations and overseas wallet partners to launch marketing campaigns on Alipay and multiple overseas wallet applications to help foreign visitors travel conveniently in China and deepen trade ties between China and foreign countries.

Ant Group's active promotion of initiatives to enhance payment convenience for inbound tourists has accelerated the growth of inbound consumption and increased China's appeal as an international tourism destination and trade hub. In the future, Ant Group will continue to optimize services, provide foreign tourists with more convenient and secure payment experiences, and serve as a bridge for global trade and exchange.

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