E-wallets Payments

Alipay Transactions Nearly Double in Singapore, Spurred By Surging Chinese Tourists

Alipay, the Ant Group-owned digital payment and service platform, revealed that Chinese tourists in Singapore nearly doubled their total transaction value via its app in Q1 2023, compared to Q4 2022.

This surge in growth was attributed to China reopening its borders for international travel and resuming group tours to Singapore during the first quarter of the year.

The average transaction value also rose by over 40%, with luxury brands LVMH and Hermes as well as premium shopping centres like Marina Bay Sands and Takashimaya witnessing the highest number of Alipay transactions in the first three months of 2023.

Furthermore, the proportion of Alipay users who completed transactions in March 2023 increased to 45% of the 2019, pre-pandemic average. Alipay is both an e-wallet partner as well as a sister entity of Alipay+, Ant Group’s global cross-border digital payment solution that connects merchants with multiple e-wallets and payment methods.

Cherry Huang

Dr Cherry Huang, Ant Group’s General Manager of Alipay+ Offline Merchant Services, commented on the rapid recovery of Chinese tourists in Singapore, saying,

“Chinese tourists now can easily access and enjoy great deals, promotions, membership benefits via the Alipay app, specifically the Passion Made Possible Privileges (PMPP) mini programme and through the Destination Page, to enjoy a rewarding and hassle-free travel experience in Singapore.”

The Singapore Tourism Board (STB) anticipates that Chinese tourist arrivals in 2023 will reach between 30% and 60% of pre-Covid-19 pandemic figures, which previously stood at approximately 3.6 million visitors per year from China.