Golden Week 2019: Alipay data shows increase in offshore spend
Overseas Alipay transactions by mainland Chinese during the Golden Week (October 1–7) holiday this year have increased year on year, according to a summary of global transactions released by the firm.
The mobile payment and lifestyle platform owned by Alibaba found that the total transaction volume increased by 10 per cent this year compared to the same period last year. Singapore ranked sixth globally in terms of transaction volume, behind Thailand and Malaysia which ranked second and fourth respectively.
Data showed that average spending per user increased by 15 per cent compared to the same period last year. On average, Chinese tourists using the “Passion Made Possible Privilege” program (jointly launched by Alipay and the Singapore Tourism Board) spent three times more than others.
In-store transaction volume this year was 110 per cent of the same period last year. Cambodia and the Philippines joined the top 10 list for the first time, with large numbers of merchants now accepting Alipay in these two markets. Emerging destinations saw some of the fastest growth in Alipay use compared to the previous year – the Philippines experienced 26 times the volume of transactions this year than in 2018, thanks to the mass rollout of Alipay to local merchants over the last 12 months.
More than 300,000 merchants in 55 countries and regions participated in Alipay’s Golden Week campaign this year. More than 1 million e-gift packs were collected by users via a scan of the promotion QR code during the first four days of this year’s Golden Week.