Alipay and Singapore Tourism Board join hands to boost Chinese tourist spending
Alipay, the world’s leading mobile and online payment and lifestyle platform operated by Ant Financial Services Group, together with the Singapore Tourism Board (STB), have launched a series of joint marketing initiatives aimed at raising destination awareness of Singapore and driving tourist spending among Chinese visitors.
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Alipay and STB signed a Memorandum of Understanding (MOU) in September 2017 to enhance Chinese tourists’ overall experience in Singapore. Under the MOU, both parties agreed, among other things, to explore co-investing in joint-marketing initiatives to encourage Chinese tourists to spend with Alipay while in Singapore.
Since signing the MOU, Alipay has experienced double-digit growth in user spending. China has also become Singapore’s top market in 2017 for both tourism receipts and visitor arrivals, contributing S$4.2 billion in tourism receipts and 3.2 million visitor arrivals.
The marketing activities are designed to incentivize Alipay users, through rewards and discounts, to spend across different types of tourism businesses such as retail, F&B and attractions, further boosting their spending in Singapore. Alipay and STB will also create tailored itineraries that are aligned with STB’s new Passion Made Possible brand. These itineraries will encourage Alipay users to pursue their passions by exploring and discovering new attractions, dining and shopping experiences. It will also give them more reasons to visit and spend more in Singapore.
Additionally, the partnership will deepen STB’s understanding of Chinese visitors’ consumer behavior and spending patterns, leveraging Alipay’s insights.
“With China being Singapore’s top source market for both visitor arrivals and tourist spending last year, we are pleased to partner with Alipay as their keen insights and deep understanding of Chinese consumers will help us to continue to grow in this critical market.
We hope to continue to broaden over time our partnership with Alipay to explore more innovative marketing initiatives in the areas of content, digital and technology to further enhance the Chinese visitor experience,” said Ms Jacqueline Ng, Director, Marketing Partnerships & Planning, STB.
“Singapore is a favorite destination for Chinese travelers. According to research released by Nielsen last year, it is one of Chinese tourists’ top ten preferred travel destinations in the world. Alipay is very pleased to be working together with the Singapore Tourism Board to ensure the consistent smart lifestyle for Chinese travelers in Singapore that they experience at home. At the same time, we are excited to connect more merchants in Singapore with Chinese tourists and be discovered by them through the app,” said Cherry Huang, General Manager, Cross-border Business for South and Southeast Asia, Alipay.
Alipay is committed to helping more local merchants be discovered by Chinese tourists and better supporting the needs of the Chinese travelers by providing a more efficient and convenient payment method via its platform. Mobile payment is gaining momentum among Chinese travelers overseas. According to the recent Nielsen report1, 65% of Chinese tourists used mobile payment platforms during their overseas travels, more than six times in comparison to non-Chinese tourists (11%). Over 90% of Chinese tourists would consider using mobile payments when traveling overseas if more overseas merchants accepted them.
Operated by Ant Financial Services Group, Alipay is the world’s largest mobile and online payment platform. Launched in 2004, Alipay currently has over 520 million active users and over 200 domestic financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Alipay’s in-store payment service covers more than 40 countries across the world, and tax reimbursement via Alipay is supported in 29 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese traveling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 27 currencies.
About the Singapore Tourism Board
The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions. For more information, visit www.stb.gov.sg or www.visitsingapore.com or follow us on Twitter @STB_sg (https://twitter.com/stb_sg).
1 Nielsen Report <2017 OUTBOUND CHINESE TOURISM AND CONSUMPTION TRENDS>
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