AUB, Alipay expand cross-border payments

MANILA, Philippines — Rebisco-led Asia United Bank (AUB) is enabling more local merchants to accept cross-border digital payments from Hong Kong, South Korea and Malaysia via Alipay+ and AUB PayMate.

“We see a resurgence of inbound personal travels this year so our partnership with Alipay+, the first in the Philippine banking industry, will give a much-needed boost to merchants serving the tourism sector,” AUB Cards and Acquiring Group head Mags Surtida said.

The Department of Tourism (DOT) has been stepping up efforts to digitalize tourism services across the country to boost the sector. As of end-June, 2.67 million tourists have visited the country, with South Koreans topping the list of international visitors and Malaysia ranking in the top 10.

With the market expansion, travellers can now pay using their home country’s e-wallets for purchases related to tourism, retail, food and beverage, entertainment as well as attractions in the Philippines.

This includes e-wallets AlipayHK (Hong Kong), Kakao Pay (South Korea) and Touch ‘n Go eWallet (Malaysia), in addition to Alipay (Chinese mainland) that has been accepted by Filipino merchants since 2017.

“Expect more foreign wallets to be added under this unified QR (quick response) code,” Surtida said.

AUB PayMate is the bank’s all-in-one digital payment acceptance product that enables all types of merchants to accept digital payments from their customers.

It enables local merchants in tourism, retail, food and beverage and entertainment sectors to accept cross-border payments via Alipay+.

AUB Paymate has enabled Alipay+ acceptance in over 5,000 stores in Manila and Cebu.

SSP Mactan, a leading operator of food and beverage outlets in travel locations worldwide, is among the first in the Philippines that used Alipay+, including on all its stores in the Mactan Cebu International Airport (MCIA).

Alipay+ Offline Merchant Services, Ant Group general manager Cherry Huang said it continues to strengthen its partnership with AU  to enhance the travel experience of tourists as they return to visit.

“Digital payments have become more important than ever, particularly for international visitors who have become so used to using their e-wallets and bank apps for day-to-day purchases. Through our local partners, we aim to help more businesses integrate Alipay+, creating a positive digital ecosystem, driving more opportunities for partners, and merchants, while making it more convenient and seamless for travellers,” Huang said.