The launch of Alipay+, a suite of global cross-border digital payment and marketing solutions, takes place on KTC's payment gateway. This innovation aims to expand KTC’s Thailand merchant business and accommodate spending from Asian tourists to Thailand through 3 new Alipay+ partner mobile wallets: AlipayHK, Touch 'n Go eWallet, and Kakao Pay.
KTC's payment merchant business is set to grow by 20% in 2023. King Power and The Mall are 2 retail businesses that have joined forces and are ready to be among the first to offer Alipay+ payment service on the KTC system.
KTC’s said they partnered with Ant Group, the operator of Alipay, to incorporate Alipay+ and enable Thai merchants to accept payments through multiple mobile wallets. By connecting to the system once, merchants gain access to a potential customer base of up to 1 billion in Asia. This integration offers a secure, convenient, and automated payment process, eliminating the need for manual one-to-one connections. Additionally, when tourists with Alipay+ mobile wallets visit Thailand, the can utilise their local mobile wallets to make payments at local merchants.
KTC member merchants now have the ability to accept payments through various mobile wallets within the Alipay+ ecosystem. This includes Alipay for Chinese citizens, which has been available in Thailand since 2015, as well as three new additions: AlipayHK for Hong Kong, Kakao Pay for South Korea, and Touch 'n Go eWallet for Malaysia. These four mobile wallets cater to the needs of the top four foreign tourist groups visiting Thailand: Malaysia, China, South Korea, and Hong Kong. In the first four months of 2023, these tourists accounted for 2.9 million out of the total 8.6 million visitors to Thailand, according to the Ministry of Tourism and Sports.
KTC member merchants who use KTC's Alipay+ payment service will also be eligible to participate in the ‘Alipay+ Scan for Offer’ promotion whereby Alipay+ mobile wallet customers will get access to various discounts that will in turn increase selling opportunities for the merchants.
Officials from Ant Group said they continue to strengthen the partnership with KTC by helping them integrate Alipay+ across their merchant network and support the digitalisation efforts of Thai businesses. Asian travellers can now enjoy easier payment options at some of their favourite shopping destinations like King Power and malls under The Mall Group. Together with Ant’s local partners in Thailand, will continue to help local businesses connect with international visitors, ensuring they drive more growth opportunities for merchants while enhancing the travel experience here.
Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods. Its services support these businesses to reach 1 billion regional and global consumers, through one-time integration and simple technical adaption. In addition to payments, Alipay+ also provides Alipay+ D-store and other marketing solutions to help merchants reach and engage with consumers pre-trip. With Alipay+, travellers can pay with the familiarity of their home mobile wallet and in their home currency, while enjoying competitive FX rates.
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