MANILA -The Ng family’s Asia United Bank (AUB) is teaming up with Chinese financial technology giant Alipay to allow cross-border payments amid the surge of tourists visiting the Philippines.
The partnership with Alipay+, Alipay’s international payments platform, will allow Philippines-based merchants to accept digital payments from AlipayHK (Hong Kong), Kakao Pay (South Korea) and Touch ‘n Go eWallet (Malaysia). This is in addition to Alipay (Chinese mainland), which has been accepted locally since 2017.
“We see a resurgence of inbound personal travels this year so our partnership with Alipay+, the first in the Philippine banking industry, will give a much-needed boost to merchants serving the tourism sector,” Maria Magdalena Surtida, senior vice president and cards/acquiring group head of AUB, said in a statement.
AUB plans to expand payments channels by adding more foreign wallets, she added.
AUB said Alipay+ was currently accepted in over 5,000 stores in Manila and Cebu.
Cherry Huang, general manager of Alipay+ offline merchant services, said their partnership with AUB supports the tourism sector.
“Digital payments have become more important than ever, particularly for international visitors who have become so used to using their e-wallets and bank apps for day-to-day purchases,” Huang said.
“Through our local partners, we aim to help more businesses integrate Alipay+, creating a positive digital ecosystem, driving more opportunities for partners, and merchants, while making it more convenient and seamless for travelers,” the Alipay executive added.
Outside the Philippines, Alipay is widely accepted in destinations including mainland China, Macao, Singapore, Malaysia, Thailand, Japan and South Korea. It is part of China’s ANT Group, a fintech giant with over 1.4 billion customers. INQ