Ant Group and its international partners, including Mastercard and Alipay+, are expanding their payment support program to Chengdu and Chongqing. This initiative aims to provide digital payment services to international travelers visiting the western regions of China.
Targeted payment services for international tourists
According to reports, this move comes as inbound tourism has significantly increased due to the promotion of cultural attractions and growing trade connections in the region. The project, known as the “International Consumer-Friendly Zone,” was initially launched in Beijing, Guangzhou, and Shanghai to meet the needs of the increasing number of international tourists in Chengdu and Chongqing.
These cities are known for their cultural heritage and economic significance, and the increase in foreign visitors reflects their popularity among global travelers. With the support of local government agencies, over 60 key shopping areas, tourist hotspots, international airports, and high-speed railway stations will be equipped with enhanced digital payment signage.
Ant Group, Mastercard, and their partners are expanding the International Consumer-Friendly Zone program to facilitate inbound travel to China.
Chengdu is known for its giant pandas, and its significant increase in foreign tourists highlights its appeal to international travelers. Similarly, Chongqing, also known as the “Mountain City of China,” has seen a significant surge in the number of international tourists, driven by initiatives like Chongqing Interconnectedness. Interconnectedness is a term defined as the ability to connect devices together. In most cases, this refers to computer networks and, more specifically, includes bridges, routers, switches, gateways, services, and local networks. Connectivity can refer to simple forms, such as connecting homes or offices to the internet, or even connecting digital cameras to computers or printers. In finance, connectivity has taken on a new meaning with the development of financial technology and the collection of big data. Connectivity is a term defined as the ability to connect devices together. In most cases, this refers to computer networks and, more specifically, includes bridges, routers, switches, gateways, services, and local networks. Connectivity can refer to simple forms, such as connecting homes or offices to the internet, or even connecting digital cameras to computers or printers. Financial interconnectedness has taken on a new meaning with the development of financial technology and the collection of big data.
Promoting tourism and trade
In particular, ASEAN tourists have found these cities attractive, further promoting tourism and trade relations. In the first half of 2024, transactions supported by Ant Group and its partners’ digital payment methods have surged in Chengdu and Chongqing. Some platforms used by ASEAN travelers include AlipayHK, Touch’nGo e-wallet (Malaysia), and TrueMoney (Thailand).
Additionally, the number of merchants accepting these digital payments has increased, as payments are one of the fundamental means of exchange in the modern world. Payments involve transferring legal tender or equivalent currency from one party to another in exchange for goods or services. The payment industry has become a staple in modern commerce, although the participants and methods of exchange have undergone significant changes over time. Specifically, the paying party is referred to as the payer, while the payee reflects the individual or entity receiving the payment. Payment is one of the fundamental means of exchange in the modern world, referring to one party transferring legal tender or equivalent currency to another in exchange for goods or services. The payment industry has become a staple in modern commerce, although the participants and methods of exchange have undergone significant changes over time. Specifically, the paying party is referred to as the payer, while the payee reflects the individual or entity receiving the payment. This semester’s highest reading volume has significantly increased compared to the same period last year, highlighting the increasing acceptance and convenience of digital transactions. With China continuing to relax visa restrictions and resume international flights, the China Tourism Academy predicts a strong recovery in inbound tourism, approaching pre-pandemic levels by 2024.
In May, Fu Lu, Ant Group’s Cross-Border Business Director for Greater China, commented on this initiative, stating, “The establishment of an International Consumer-Friendly Zone in Shanghai signifies significant progress in enriching the inbound tourism experience and supporting local businesses, especially considering the city’s pivotal role in China’s global interactions.”
