Alipay+ partners Khan Bank to drive tourism and merchant growth in Mongolia

Alipay+ and Khan Bank, the Mongolian full service bank, have joined forces to enable users of 12 overseas e-wallets and bank apps from eight regions to enjoy seamless digital payment experience across Mongolia.

The participating e-wallets and bank apps include Alipay from Chinese mainland, AlipayHK from Hong Kong, Tinaba from Italy, MyPB by Public Bank and Touch ‘n Go Digital from Malaysia, GCash from The Philippines, Changi Pay and OCBC Digital from Singapore, Kakao Pay, Naver Pay and Toss Pay from South Korea, and TrueMoney from Thailand.  

Powered by Alipay+, users of these Asian and European e-wallets and payment apps will enjoy a smooth and secure payment experience in Mongolia whenever they encounter the Alipay+ logo at participating merchants ranging from established hotel chains and restaurants to department store and cashmere outlets located throughout the country.

Through the one-stop integration feature provided by Alipay+, these merchants can accept payments from mobile payment apps on the same QR code interfaces displayed at physical stores, or by scanning the QR code in user’s app.

In addition, Alipay+ marketing solutions will allow local merchants to create promotions, distribute digital coupons and discount offers directly reaching users, which ensures better marketing efficiency and scalability.

Erdenedelger Bavlai, first deputy CEO of Khan Bank, said, “Khan Bank was the first financial institution to sign an agreement with the Ant group back in 2021, enabling international payment process through Alipay. This time we are delighted to expand our partnership with the group and accept digital payment of users from eight countries and regions powered by Alipay+ on Khan Bank terminals for the first time in Mongolian market.”

“This partnership is significant for not only Khan Bank but also for Mongolia as it contributes to the development of tourism besides securing seamless payment for tourists and travellers coming to Mongolia,” Bavlai added.

Since the pandemic, Mongolia has seen an increase of inbound travellers in the past three years. The government of Mongolia has claimed 2024 and 2025 as years to visit Mongolia with an ambition to receive one million tourists from 2023 through 2025.

Danny Chung, general manager of Alipay+ Korea, Europe, Middle East and Mongolia, said, “Mongolia is one of the favourites destinations for international travellers. The partnership with Khan Bank marks a significant milestone for Alipay+ as Mongolia becomes a new destination to accept cross-border mobile payments, powered by Alipay+. This partnership is a testament to our commitment to bringing a convenient and secure digital payment experience for international travellers.”

He added, “Together with Khan Bank we are connecting local businesses with international visitors, offering better travel experience to tourists and greater business opportunities and visibility for local merchants.”

Alipay+ now connects over 88 million merchants in more than 50 countries and regions to over 25 e-wallets and bank apps, allowing consumers to travel and pay hassle-free globally, and merchants to expand cross-border consumer engagement and digital marketing.

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