Alipay, WeChat and other payment giants aggressively rush to sea to seize the mobile payment market

Alipay, WeChat and other payment giants aggressively rush to sea to seize the mobile payment market

Beijing, Oct. 4 (Reporter Du Ximeng) According to the Voice of China "National News Joint Broadcast" reported that during the National Day Golden Week, outbound tours occupy half of the tourist market, and major payment giants also play marketing cards, discounts, exemptions, tax rebates, and actively seize the mobile payment market.

This year's eleven holiday has become a fierce battleground for payment institutions overseas. The UnionPay said it had launched exclusive promotions for nearly 2 000 businesses in 25 countries and regions outside China. In addition to credit card discounts, but also includes travel booking preferences, mobile payment preferences, random cut and other forms of preferences. Alipay claims that it has access to hundreds of thousands of merchants in over 40 countries, and 9 of them have completed the localization layout through cooperation with local brands. WeChat paid 3 major new functions of tax rebate series to support real-time tax rebates for 81 airports worldwide.

A Hong Kong merchant said that because of the larger payment concessions, they are also willing to use mobile payment for consumers to pay, "(consumers) more concessions, payment time is very fast, very convenient."

According to Yi Guan's recently released "China's third-party payment industry thematic analysis 2018" data show that the overall scale of mobile payment transactions has rapidly increased from 1.3 trillion yuan in 2013 to more than 109 trillion yuan in 2017, and the overall growth rate of the industry has exceeded 100% for four consecutive years. Mobile payments, which go out with people traveling abroad, also have more opportunities to expand outward, said Xu Sitao, Deloitte China's chief economist. "Internet mobile payments must be at the forefront of the world, which also brings more consumption in the future."

Some experts said that the Chinese tourists' super spending power is the fundamental reason why the overseas scenario parties are willing to accept Alipay, WeChat, UnionPay and other domestic payment tools. However, the third party payment may be faced with greater challenges in the subsequent penetration of localized localization overseas. Matching or changing the usage habits of overseas users is an effective way for domestic payment brands to lay out more overseas mobile payment scenarios in the future.

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