SEOUL – As more international tourists to visit to South Korea are eager to enjoy K-food, shopping, and entertainment with ease at key destinations, Alipay+, Ant International’s cross-border mobile payment and digitalization technology solutions, is enhancing travel experience for them by enabling cashless transactions, while providing diverse promotions.
In the first nine months of 2024, Alipay+'s partner app users in the country increased by 131% year-on-year. During the peak autumn travel season, coinciding with China’s National Day holiday (October 1 to 7), Alipay+ achieved a total payment volume of KRW 47 billion (USD 35 million), surging by 43% year-on-year. Alipay+ works with leading mobile payment apps, including Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), Touch 'n Go eWallet (Malaysia), GCash (The Philippines) and TrueMoney (Thailand), to simplify transactions for tourists.
Unlocking Payment Convenience at Street Vendors
In particular, as tourists seek localized, authentic experiences, Alipay+ has expanded its reach to include street vendors and traditional markets in popular destinations by means of a variety of promotions and partnerships.
Already available at about 1.7million merchants nationwide, Alipay+ now cooperates with I-Aurora and PPL Networks to introduce mobile payments at more popular locations such as the iconic Myeong-dong night market. I-Aurora is a fintech startup that operates a prepaid service called “NAMANE” for tourists, and PPL Networks is a leading marketing consultant in South Korea.
Over 180 street vendors accept Alipay+ at the Myeong-dong night market. Tourists can scan Namane QR codes to complete transactions using their preferred mobile payment apps and enjoy 30% discounts. As the first and only overseas mobile payment provider at these traditionally cash-only street vendors, Alipay+ not only enhances tourists’ K-lifestyle experience but also help small businesses benefit from the influx of international visitors.
Total transactions made by Chinese users of Alipay at the Myeong-dong night market during China’s National Day holiday from October 1 to 7 reached over 4000, with total payment volume of over KRW 34.3 million (about USD 25,000).
Beyond Myeong-dong, tourists use partner apps of Alipay+ to explore traditional markets in Jeju and Seoul, and experience local café culture at Aewol Café Street in Jeju. From August 1 to September 30, tourists using Alipay, AlipayHK, Touch 'n Go eWallet, GCash, and TrueMoney scanned Zeropay QR codes for 50% discounts at Aewol Café Street, leading to a 328% surge in total transactions compared to the same period before the promotions.
Alipay+’s integration also extends to transportation services, making it easier for tourists to pay for taxis in Seoul and buses on Jeju Island, supported by promotions from Alipay, AlipayHK, Touch 'n Go eWallet, GCash, and TrueMoney.
Boosting Local Businesses Through Ongoing Promotions
Alipay+’s marketing campaigns have driven strong growth for local merchants across South Korea. In collaboration with merchants and mobile payment partners like Alipay, AlipayHK, Touch 'n Go eWallet, TrueMoney, and GCash, Alipay+ has launched a series of promotions for tourists between early August and December. These promotions cover a wide range of merchants, including duty-free shops, department stores, K-Beauty retailers (such as Olive Young and clinics), taxis, buses, convenience stores, coffee shops, as well as select hotel and resort brands.
To attract more tourists, especially those visiting during China’s National Day holiday, Alipay+ and its payment partners offers 30% discount promotion at over 300 stores in commercial areas covering Myeongdong, Dongdaemoon and Hongdae in Seoul from September 27 to October 10.
By October 9, total number of transactions and overall transaction volume on Alipay increased by 64% and 49%, respectively, compared to pre-promotion levels. At City Duty Free in Incheon Airport, Alipay’s payment volume surged by 129% between September 25 and October 9. Similarly, Alipay’s "spend-and-save" promotions at Lotte, Shilla, Hyundai, and Shinsegae duty-free stores across the country led to impressive growth in sales.
“We’re excited to bring cashless payments at street vendors and traditional markets—key elements of Korea’s cultural experience,” said Jaehyeon Yu, Managing Director at Alipay+ South Korea. “Our goal is to help visitors shop, dine and explore the country with ease, while driving growth for our local partners, especially small businesses.”
About Alipay+
Alipay+ is a suite of cross-border mobile payment and digitalization technology solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
