Macau-based Macau Pass has partnered with global payment facilitator Alipay+ in a bid to expand cross-border payments in over 40 countries.
The partnership seeks to expand the coverage of Macau Wallet's MPay cross-border payment offering to over 40 overseas countries, including the UAE, Switzerland, the UK, countries from the European Economic Area (EEA), Australia, New Zealand, Qatar, Singapore, Malaysia, South Korea, Japan, the Philippines, Thailand, and the US.
Developed by Macau Pass, MPay is a mobile payment e-wallet that enables its users to link various bank accounts or credit cards to their e-wallet account. Features-wise, MPay extends capabilities such as online and offline payments, P2P transfers, telecom and utility bill payments, online ticketing, MPark, and transport QR payments, among others.
According to the official press release, Macau residents who use MPay (levels 3A, 3B, and JR) will now have access to cross-border payment capabilities. To make use of them, they need to switch the Alipay+ overseas payment code on MPay whenever they come across the Alipay+ logo at merchants from the aforementioned countries.
As outlined in the official press release, the 2022 Household information technology survey conducted by the Statistics and Census Bureau of the Macau SAR Government showcased that travel services were the highest category in the online shopping consumption slot for the fourth quarter of 2022, with the report further indicating that the number of consumers surged to 142% compared to the same timeframe in 2021.
What is more, data reportedly shows an increase in the number of searches for outbound air tickets and travel accommodation in overseas countries. Therefore, the consensus is that the demand for outbound travel will continue to grow and that of cross-border consumption will similarly rise.
When commenting on the latest announcement, a representative from Macau Pass emphasised the need for the implementation of new cross-border mobile payment solutions, especially during the current period of intense transformation and digitalisation.
They further added that, by combining the capabilities of MPay and Alipay+, the two main mobile e-wallets in Macau, the collaboration strives to develop a smart wallet that caters to the needs of the area’s residents. Among the capabilities expected to be extended to the Macau residents as a result of the partnership is the facilitation of global travel. Moreover, this collaboration is also expected to result in addressing the pain points associated with international trips and optimising the payment experience for the residents.
Given the context, the same representative confirmed that MPay plans to continue to expand electronic payments, life services, and its marketing technology products and, consequently, further align with the worldwide tendency towards a digital economy.
This is not the sole instance when Alipay+ was linked to efforts towards the development of mobile payment solutions aimed at improving the payment experience for travellers in 2023.
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