Linking any Mastercard card to the Alipay digital wallet makes e-payments in China even easier. — Photo courtesy of the company
With the resumption of travel and tourism to China in full swing, Mastercard and Alipay, China’s digital open platform under Ant Group, on June 23, launched a new payments option that provides international arrivals to China with another simple and secure way to go cashless when visiting the country.
Expanding on a partnership established in 2019 to offer enhanced digital payment solutions to both consumers and merchants, the new service by Alipay and Mastercard offers another safe and convenient way for international visitors to China to pay like a local when travelling around the Chinese Mainland, regardless of where in the world their Mastercard card was issued. Cardholders simply need to link their existing Mastercard credit or debit card to the Alipay digital wallet – and that’s it! There’s no need to set up or top up a prepaid account.
By having the choice to pay cashless, via mobile devices, at tens of millions of Alipay acceptance locations across the country where QR codes are the most popular form of payment, Mastercard cardholders from around the globe will have the option to transact with ease and convenience while in China, just like locals do.
For merchants, especially small and medium-sized enterprises (SMEs), the Alipay-Mastercard tie-up gives them more opportunities to transact with international visitors who will now have access to the most widely accepted payment method in China, allowing them to get around easily, without hassle.
Courtesy of Mastercard Payment Gateway Services (MPGS), overseas card transactions completed on the Alipay digital wallet are processed through Mastercard’s omnichannel payments platform that enables merchants – large and small – to easily accept payment from anywhere in the world, helping businesses to grow, and consumers to transact safely and securely while at home or abroad.
According to the Mastercard Economics Institute’s fourth annual travel report, Travel Industry Trends 2023, the global sector is rebounding, with leisure travel bookings up roughly 31 per cent in March 2023 compared to the same period in 2019, driven by high-income consumers. It is believed that popular travel destinations, including the Chinese Mainland, will actively benefit from this trend. — VNS