Alipay, CCPay partner for cashless payments in Singapore
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China’s popular cashless payment platform Alipay has honed in on Singapore, announcing on Tuesday it has entered into partnership agreement with a local digital payment provider CCPay to offer cashless payment services to Singaporean retailers.
Alipay, a subsidiary of Alibaba’s associated Ant Financial, has tapped CCPay to expand the use of the cashless payment platforms in Singapore, in a bid to give convenience to Chinese tourists here.
The cashless payments will be first introduced to merchants around the Chinatown area, with plans for further expansion to other shopping malls in Singapore.
“With Alipay’s scale and expertise in the field of cashless payments, this collaboration with CCPay will provide a platform for merchants to facilitate safe, fast and cashless payments for the Chinese tourists in Singapore,” Melvin Ooi, Alipay country manager at Singapore, Sri Lanka and Maldives, told local media.
Kicking off in 2004, Alipay boasts over 520 million active users, mostly in China. It continues to expand into offline payments globally and covers more than 200,000 retail stores overseas with the support for 18 currencies.
Most recently, Alipay entered nearby Malaysia in May, after forging its way into North America in January via its partnership with DFS Group.
Founded in March 2017, CCPay is a Singapore’s main digital payment solutions provider for online, mobile and in-store payment.
Questions & Answers
Q.What is the primary motivation for Alipay to expand its cashless payment services into Singapore?
What is the primary motivation for Alipay to expand its cashless payment services into Singapore?
Alipay is expanding into Singapore primarily to offer convenient cashless payment options for Chinese tourists visiting the country. This move aims to cater to its large user base when they travel abroad.
Q.Which specific areas in Singapore will initially offer Alipay's cashless payment services?
Which specific areas in Singapore will initially offer Alipay's cashless payment services?
The cashless payment services will first be rolled out to merchants located around the Chinatown area. There are plans for this service to expand to other shopping malls in Singapore later.
Q.How many active users does Alipay currently have, and where are most of them located?
How many active users does Alipay currently have, and where are most of them located?
Alipay currently has over 520 million active users. The majority of these users are based in China, where the platform first launched in 2004.
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