Alipay+ announced that it has signed a memorandum of understanding (MOU) with the Korea Tourism Organization (KTO) on January 24 to together revitalize inbound tourism and ensure a more convenient and seamless checkout experience for international tourists visiting in the country.
Under the MOU, the two parties will jointly enhance digital payment acceptance at major tourism spots such as shopping, transport, accommodation and other facilities in major cities across South Korea, including Seoul, Busan, Gangneung, Mokpo, Andong, Jeonju and Jeju, to expand merchant coverage and boost local economies.
Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payment and marketing solutions that connects more than 88 million merchants across 57 countries with more than 25 e-wallet and banking apps.
Alipay+ and the KTO will also leverage consumer insights among inbound visitors and launch joint campaigns to attract tourists from China and Southeast Asia.
Alipay+ and the KTO’s first joint campaign, “Alipay+ X KTO Mobile Digital Payment Promotion”, will launch during the Chinese New Year holiday period from February 9 to 16. Throughout the month-long campaign, users of Alipay+ partner e-wallets and banking apps can enjoy benefits, including an immediate 10% off discount at selected Alipay+ merchants in Myeongdong. Alipay+ plans to launch more seasonal benefits during the month of February to attract international consumers and boost spending.
Commenting on the new partnership, Danny Chung, General Manager of Ant Group in Korea, Australia and New Zealand and Mongolia, said, “We are excited for this new partnership with the KTO, as we are excited to support the government's efforts in promoting and revitalizing inbound tourism and attract overseas tourists visiting Korea. Previously, we have worked with local partners to connect merchants – big and small – with a variety of overseas mobile payment methods. Through our cooperation with the KTO, we are moving one step further towards Alipay+'s goal to enable the most convenient and seamless digital payment experience for international tourists visiting and experiencing Korea.”
Lee Hak-ju, Head of the International Tourism Division at the KTO, said, “After the pandemic, recent travel trends in global tourists are rapidly changing to independent travelers and the mobile-based travel services are becoming very important. We will work to expand demand for travel to Korea by increasing the number of locations accepting overseas digital payment through efforts such as promoting major tourism cities, enhancing the infrastructure and supporting tourism venture companies with the support of Alipay+.”
The collaboration follows Alipay+’s partnership with the Korea Easy Payment Foundation in 2023. As a result, eight international e-wallets can be used to make payments at over 1.7 million ZeroPay merchant stores across the country, that are Alipay, AlipayHK (Hong Kong SAR China), MPay (Macao SAR, China), TrueMoney (Thailand), Touch 'n Go eWallet (Malaysia), OCBC and Changi Pay (Singapore) and HiPay (Mongolia). The number of transactions by tourists using Alipay+ partner e-wallets in October 2023 increased 700% compared to earlier that year.
Especially, through a joint promotion between Alipay+ and the Korea Easy Payment Foundation during October 1 to 15, 2023 at the Noryangjin Fish Market, transactions at merchant stores through ZeroPay QR-code using Alipay+ partner e-wallets during that period increased 150% compared to the same period in September.