In the first quarter of 2024, MPay, the cross-border payment service launched by Macau Pass, saw a significant increase in transaction value and volume in Japan. The surge, over 200% respectively, was attributed to the expanding coverage of MPay to over fifty countries, enabling users from Chinese mainland and Hong Kong to use the wallet globally.
This growth in Japan is part of the broader trend of increasing support from the Chinese government for digital economy and cross-border payments. MPay’s collaboration with Alipay+ has facilitated seamless payments for Macao residents in Japan, allowing them to make purchases at cooperating stores and enjoy preferential exchange rates.
Mr. Sun Ho, Chairman and CEO of Macau Pass, emphasized the commitment to enhancing the payment experience for global travelers through MPay. The goal is to create a comprehensive digital cross-border payment solution that addresses the challenges faced during overseas travel.
Alipay+ has been instrumental in driving the growth of e-wallets and bank apps in Japan, with transactions surging over 200% in the first quarter of 2024. This surge is expected to account for about 10% of total spending among users during their stay in the country.
Popular e-wallets like Alipay, AlipayHK, Kakao Pay, Touch ‘n Go eWallet, GCash, and TrueMoney are among the preferred choices for travelers to Japan. The partnership with Alipay+ has provided global tourists with a seamless payment experience, eliminating the need for foreign currency exchange and language barriers.
The success of Alipay+ in Japan is reflected in its wide network of merchants in 57 countries or regions. With over 1.5 billion consumer accounts on various e-wallets and bank apps, Alipay+ continues to simplify global travel and payment experiences for consumers while enabling merchants to engage in cross-border digital marketing.
