Asia United Bank (AUB) is strengthening its partnership with digital payment solutions provider Alipay+ to make its AUB PayMate one of the preferred cross-border payments for travellers in the region.
In a statement Tuesday, Sept. 26, AUB officials said more local merchants from Hong Kong SAR, South Korea, and Malaysia are accepting Alipay+ and AUB PayMate.
To date, AUB PayMate has enabled Alipay+ acceptance in over 5,000 stores in Manila and Cebu. AUB PayMate is AUB’s all-in-one digital payment acceptance product for all types of merchants, both local and foreign e-wallets, bank payments, and cards.
Mags V. Surtida, AUB Senior Vice President and the head for Cards & Acquiring Group said they “expect more foreign wallets to be added under (the) unified QR code.”
“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,” said Surtida.
AUB, owned by businessman Jacinto Ng who founded Republic Biscuit or Rebisco, is the country’s 13th biggest bank out of 45, with an asset size of P325 billion as of end-March 2023.
AUB said that increasingly, travellers are able to pay using their home country’s e-wallets for purchases related to tourism, retail, food and beverage (F&B), entertainment, and attractions in the Philippines.
This includes e-wallets AlipayHK (Hong Kong SAR), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia), in addition to Alipay (Chinese mainland) which Filipino merchants have been using since 2017, said the bank.
Cherry Huang, the General Manager of Alipay+ Offline Merchant Services, Ant Group, said they are forging stronger ties with AUB to “enhance the travel experience for tourists as they return to visit.”
“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. 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 travellers,” she said.
AUB cited a Department of Tourism data that showed that with a more digitalized tourism services, this has made it easier for travellers in the country.
As of June this year, some 2.67 million tourists have visited the country, with South Koreans topping the list of international visitors.
Alipay+ processes mobile payments across the region, namely Philippines, Chinese mainland, Macao SAR, Singapore, Malaysia, Thailand, Japan and South Korea, among others.
It is a cross-border digital payments, marketing and digitalization solutions provider operated by Ant Group. To date, it has reached more than 1.4 billion regional and global consumers, through one-time integration and simple technical adaptation, said AUB.