Southeast Asia is the fastest-growing e-wallet region in the world, according to the 2021 Mobile Wallet report released by Juniper Research, a digital technology analysis company. With Southeast Asian governments’ active efforts to promote the digital economy and the region’s e-commerce boom, it is estimated that by 2025, six Southeast Asian countries (Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines) will have more than 440 million e-wallet users.
In 2020, Ant Group launched Alipay+, a suite of global cross-border digital payments and marketing solution, which enables businesses to accept its partner payment methods through a one-time integration. With the gradual recovery of the global economy, direct interaction with the growing number of consumers using Alipay+ partner e-wallets is positive for businesses in Macau to seek new business opportunities.
“Comprehensive and innovative digital solutions is the key to accelerate the digital transformation of Macau’s service industry,” said Mr. Sun Ho, Chairman and CEO of Macau Pass. GCash, Touch ‘n Go eWallet and TrueMoney, which come from the Philippines, Malaysia and Thailand respectively, have profound experiences in Southeast Asia and a significant user base in their markets. Through the cooperation with Alipay+, the innovative one-stop payment solution will accelerate the digital transformation of local merchants in Macau, create an connected international digital payments ecosystem for Macau, solve the problem of cross-border payment for international tourists, and help enterprises find new marketing growth opportunities.
At present, Galaxy Macau™, MGM, Sands Resorts Macao, SJM Resorts, S.A., Wynn Macau, Limited, Macau Fisherman’s Wharf, Future Bright Group, Hotel Lisboa Macau, Lisboeta Macau, New Yaohan and TurboJET and other well-known enterprises in Macau are actively engaged in the launching of these three international e-wallets. At the same time, more enterprises are invited to join Alipay+ to attract more tourists and jointly promote business efficiency. With the gradual return of overseas tourists, especially those from Southeast Asia, Macau Pass believes that it can help Macau businesses to provide more convenient multi-scene services for overseas tourists and contribute to Macau’s economic recovery and growth.
Mr. Sun said that as one of the leading mobile payments in Macau, Macau Pass’ MPay e-Wallet will continue to explore strategic cooperation with Alibaba Group and Ant Group to further expand e-commerce and digital media entertainment, develop and create a more diversified business scene, and explore commercialization opportunities in Macau’s e-payment ecosystem.