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Holiday peps up spending spirit

The MSAR ranked 6th in terms of volume of in-store transactions conducted by Alipay users outside Mainland China during the recent Golden Week holiday period

Of the 10 countries and regions outside Mainland China that saw the largest volume of in-store transactions conducted by Alipay users during the Golden Week holiday period Macau ranked 6th, according to a report provided to Business Daily by Ant Financial Services Group (formerly Alipay).
According to the Alibaba Group subsidiary, Hong Kong topped the list, followed by Thailand, Taiwan, Japan, South Korea, Macau, Malaysia, Singapore, Australia and New Zealand.
The report – which does not specify the total number of transactions – indicated that the volume of transactions in Hong Kong during this year’s eight-day holiday period was 13 times higher than last year.
The neighbouring city also consumed around 16.6 per cent of the 1.2 million-plus e-coupons used on Alipay worldwide.
Meanwhile, the volume of in-store Alipay transactions in Thailand increased six-fold compared to the Golden Week period of last year, with results in Taiwan some 13 times higher.
The report also indicated that per capita in-store spending through Alipay had increased by half from last year to RMB1,301 (MOP1,590/US$197), with spending ‘much higher than average’ outside Asia, especially in Europe, where users spent an average of RMB3,150 through Alipay.
As a third party online payment service provider, Alipay allows customers to conduct transactions directly from their mobile devices, with stores able to accept payments through QR Scan or barcode scanning.
In 2015, Macau Pass SA became Alipay’s authorised agent for the settlement of mobile payment transactions, with local regulations requiring a partnership with a local, recognised credit institution to conduct third party payment activities in the MSAR.