Malaysia and Singapore among top 10 Alipay overseas spending markets

Malaysia has been ranked ninth out of 10 countries that dominated overseas spending on Alipay this summer between 1 July and 31 August, moving up one spot compared to the same period last year.The average spending per Alipay user in Malaysia this summer was approximately SG$306.23 (approximately RM921.50), a 106% average increase in spending per Alipay user, and a 511% total increase in spending compared to the same period in 2017. Meanwhile, Singapore was ranked seventh, with the average spending per Alipay user amounting to SG$352.35 (approximately RM1,060.30). The number represents a 32% average jump in spending per Alipay user and a 320% total increase in spending.Overall, Asia dominated the list of top 10 countries, with Hong Kong coming in first, followed by Thailand and South Korea. Alipay also noted that it processed 2.6 times as many in-store overseas transactions this summer, as compared to the previous year.Marketing will be hosting the Asia eCommerce Awards on 29 November 2018. Entries will recognise the best etailers, innovations and campaigns from across the region. Check it out here.More than 18,000 merchants in Malaysia currently accept Alipay, including stores operating within Kuala Lumpur International Airport (KLIA) and KLIA2, all Eraman, 7-Eleven and Starbucks stores in Malaysia, as well as various businesses across Resorts World Genting. Taxis in Malaysia have also begun accepting Alipay as a result of its partnership with e-hailing app EzCab.In 2018, Alipay inked partnerships with Malaysia Airports and Public Bank to offer its services to a wider range of merchants and consumers. Meanwhile in Singapore, Alipay also tied up with the Singapore Tourism Board and retailers in Chinatown to target Chinese tourists that visit the country.Read also:Challenges ahead for brands to embrace cashless payment in MalaysiaFave’s Joel Neoh on entrepreneurship, making mistakes and cashless societiesTencent confirms plans to launch WeChat Pay in MalaysiaMalaysia among top 10 markets for overseas spending by Chinese tourists(Photo courtesy: 123RF)