Golden touch for Alipay overseas transactions

During Golden Week, there were eight times as many in-store Alipay transactions overseas than last year.

Asia dominated the top 10 destinations in terms of transaction volume, with Hong Kong topping the list. It was followed by Thailand, Taiwan, Japan, South Korea, Macau, Malaysia, Singapore, Australia and New Zealand.

Much of the fastest growth in Alipay use from last year was also in Asia, with transactions volumes in Singapore growing by a factor of 30. Japan’s transaction volumes were 16 times last year’s figure, while in Hong Kong and Taiwan volumes were 13 times the 2016 figure. Thailand saw six times the transaction volume of last year.

Alipay use also grew in the Pacific, with transactions volumes up 20 times in Australia and a six-fold increase in New Zealand – the same as for Europe, where Germany, the UK and France accounted for 40, 23 and 22 per cent of transaction volumes respectively. Italy, where Alipay launched in April, accounted for a further 5 per cent.

Alipay per capita spend was up 50 per cent to RMB1301 (US$198). This was much higher than average in destinations outside Asia, particularly Europe, where users spent an average of RMB3150.

Switzerland posted the highest per-capita spend (RMB36,298) of any country or region, and more than 10 times the average for Europe as a whole.

Also above the global average were the US and Canada (RMB1648) and Australia and New Zealand (RMB1415).

Users born in the 1980s and 1990s accounted for 84 per cent of transactions.