Alipay+, which is developed by Ant Group, a world-leading internet open platform, recently partnered with Philippine-based e-wallet provider GCash and three other Asian mobile payment providers to be able to introduce an integrated digital payments platform in South Korea.
Aside from GCash, Alipay+ has likewise partnered with Touch ‘n Go (Malaysia), TrueMoney (Thailand), and AlipayHK (Hong Kong). The collaboration marks the first time that leading mobile payment providers in Hong Kong and Southeast Asia will be extending the availability of their services in South Korea through Alipay+.
With the partnership, Alipay+ travelers can now use their own e-wallet platform to make online payments to more than 120,000 merchants in South Korea.
“It is our pleasure to connect merchants in Korea with a variety of mobile payment methods, enabling Asian tourists to pay with convenience and simplicity in Korea using their preferred home [eWallets],” said Danny Chung, general manager of Ant Group Korea, Australia, and New Zealand, in a press release.
“As the theme of this year’s World Tourism Day is ‘Rethinking Tourism,’ Alipay+ has since been striving to achieve the same goal by supporting a cashless and smart travel experience,” Chung added. “Through innovation and digitalization, we hope Alipay+ can play its role in the transformation of tourism towards a crucial pillar of development.”
However, only payments for tourist activities such as taxi rides, duty-free shops, convenience stores, as well as food and beverage chains will be covered during its initial roll-out, according to Chung.
Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and to better serve regional and global consumers through simple technical adaption.
South Korea remains a popular tourist destination
“With South Korea being one of the most popular destinations for Filipinos, we are delighted that our customers will be able to maximize their GCash app during their travels. This collaboration with Alipay+ provides our users the convenience they need to easily transact and manage their expenses with GCash,” said Martha Sazon, President and CEO of Mynt which operates GCash, in a press statement.
“This innovative partnership aligns with our vision of financial inclusion and is a huge step towards building a cashless ecosystem, worldwide,” she adds.
The partnership between Alipay+ and other e-wallet providers in Asia comes as international travel across the region continues to rebound.
Early this month, South Korea lifted the requirement for pre-travel COVID-19 tests for inbound travelers, following a decision to remove all quarantine requirements for foreign arrivals regardless of vaccination status.
South Korea’s long-term popularity as a destination for travel, shopping, and K-Pop makes it a top choice for international tourists as travel in Asia revitalizes.
According to statistics by Korea Tourism Organization (KTO), over 800,000 foreign tourists visited South Korea during the first half of 2022, representing a 92.8% increase compared to the same period last year.
Tourists from ASEAN countries, including the Philippines, Thailand, and Malaysia, topped the inbound arrivals to South Korea, accounting for 30.3% of the total.
As the usage of mobile payments by international travelers and the number of travelers from Southeast Asia continue to rise, the retail industry in Korea is now also adopting various mobile payment methods, particularly in partnership with Alipay+.
For instance, Lotte Duty Free and convenient store brand GS25 have since signed partnership agreements with Alipay+ to make the shopping experience of international consumers in South Korea so much easier and more convenient.