Macau Pass payments (MPay) has just been officially approved to provide acquiring services to Alipay+ from its market-leading e-wallet partners based in the Philippines, Malaysia, and Thailand.
This means that in addition to Alipay, AlipayHK, WeChat Pay, Simple Pay, and other e-wallets launched by other banks in Macau, Macau Pass payment devices can now also accept GCash, Touch ‘n Go eWallet and TrueMoney, following South Korea’s Kakao Pay.
Since its establishment in 2006, MPay has issued more than 450.82 million cards and more than 27,000 MPay registrations, covering acceptance outlets in multiple industries. MPay can also be set up as access control cards, employee cards, or membership cards to be able to fully support the daily life transactions of any individual.
IMAGE CREDIT: www.macaupass.com/card
Southeast Asia touted to be the fastest-growing e-wallet region
According to the 2021 Mobile Wallet report released by Juniper Research, a digital technology analysis company, Southeast Asia may now be considered the fastest-growing e-wallet region in the world, with the total number of digital wallet users in the region expected to exceed 5.2 billion globally in 2026, up from 3.4 billion in 2022.
With Southeast Asian governments’ active efforts to promote the digital economy and the region’s e-commerce boom, it is also estimated that by 2025, six Southeast Asian countries (Singapore, Malaysia, Thailand, Indonesia, Vietnam, and the Philippines) will have more than 440 million e-wallet users.
In 2020, Ant Group launched Alipay+, a suite of global cross-border digital payments and marketing solutions, which enables businesses to accept their partner payment methods through one-time integration.
With the gradual recovery of the global economy, direct interaction with the growing number of consumers using Alipay+ partner e-wallets is positive for businesses in Macau to seek new business opportunities.
“Comprehensive and innovative digital solutions are the key to accelerating the digital transformation of Macau’s service industry,” said Mr. Sun Ho, Chairman and CEO of Macau Pass.
“GCash, Touch ‘n Go Wallet, and TrueMoney, which come from the Philippines, Malaysia, and Thailand, respectively, all have profound experiences in Southeast Asia and a significant user base in their markets,” he added.
The press release further stated that through its cooperation with Alipay+, the innovative one-stop payment solution will also be able to accelerate the digital transformation of local merchants in Macau, create a connected international digital payments ecosystem for Macau, solve the problem of cross-border payment for international tourists, and help enterprises find new marketing growth opportunities.
At present, Galaxy Macau™, MGM, Sands Resorts Macao, SJM Resorts, S.A., Wynn Macau, Limited, Macau Fisherman’s Wharf, Future Bright Group, Hotel Lisboa Macau, Lisboeta Macau, New Yaohan and TurboJET and a number of other well-known enterprises in Macau are actively engaged in the launch of these three international e-wallets.
At the same time, more enterprises are invited to join Alipay+ to attract more tourists and jointly promote business efficiency. With the gradual return of overseas tourists, especially those from Southeast Asia, Macau Pass believes that it can help Macau businesses to provide more convenient multi-scene services for overseas tourists and contribute to Macau’s economic recovery and growth.
Mr. Sun said that as one of the leading mobile payments in Macau, Macau Pass’ MPay e-Wallet will continue to explore strategic cooperation with Alibaba Group and Ant Group to further expand e-commerce and digital media entertainment, develop and create a more diversified business scene, and explore commercialization opportunities in Macau’s e-payment ecosystem.
