NayaPay partners with Alipay+ for direct China payments

In Business
April 09, 2024



BEIJING/
KARACHI:

NayaPay, Pakistan’s leading fintech platform, announced its integration with Alipay+, enabling NayaPay users to make payments at Alipay+’s extensive network of 80 million merchants in China. This milestone marks the first direct payment channel between China and Pakistan.

In an effort to bolster the experience of international travellers in China, Ant Group, along with 11 overseas payment partners of Alipay+ and major international card organisations, has initiated a nationwide programme to establish International Consumer Friendly Zones across key Chinese tourist and commercial cities.

This ambitious endeavour, launched in Beijing with the support of relevant authorities and local governments, aims to elevate the convenience and accessibility of mobile payment options for visitors while driving business for local merchants.

The programme revolves around two mobile payment alternatives offered by Ant Group. Alipay+ is a suite of cross-border mobile payment and digitalisation technology solutions under Ant International, enables overseas consumers to seamlessly pay with their home e-wallets across China. Additionally, travellers have the option to bind major international bank cards, including Visa, Mastercard, JCB, Discover®, and Diners Club International, to an Alipay app, granting access to a plethora of local Alipay services without the need for a local bank account or phone number.

As part of the International Consumer Friendly Zones initiative, Ant Group will collaborate closely with its partners to enhance the accessibility and convenience of these payment options at locations frequented by travellers. Efforts will concentrate on expanding bilingual support, providing comprehensive user guides, and strengthening merchant training to ensure a seamless experience for global consumers.

At the launch, Alipay+ jointly announced with NayaPay, that NayaPay users will be able to make payments with their e-money account at Alipay+’s network of 80 million merchants in China, as bilateral trade and visits increase.

Read also: NayaPay, Alipay+ to boost payments into Pakistan

NayaPay has become the 11th overseas and first Pakistani payments platform to “roam” in China, following AlipayHK (Hong Kong, China), Changi Pay (Singapore), HiPay (Mongolia), Kakao Pay (South Korea), MPay (Macao, China), Naver Pay (South Korea), OCBC Digital (Singapore), Toss Pay (South Korea), Touch ‘n’ Go eWallet (Malaysia), and TrueMoney (Thailand).

Commenting on the initiative, Danish A. Lakhani, CEO of NayaPay, said that “Today marks a monumental milestone in the commercial relationship between China and Pakistan as we witness the establishment of the first direct payment channels between our two nations. This groundbreaking development is made possible through the collaborative efforts of Ant Group, NUCC, and NayaPay, under the auspices of the People’s Bank of China and the State Bank of Pakistan. This achievement not only paves the way for a new era of financial transactions but also symbolizes joint innovation between our nations.”

Moreover, Yin Xiaolong, Vice President, General Manager at Visa mainland China, said that “As the trusted engine of the commerce, Visa is committed to collaborating with partners to improve payment experience for international tourists. They can choose the ways to pay with Visa in accordance with their preferences and needs, no matter using international cards, local e-wallets or cash. We believe the convenient and seamless payment experience will boost economies where individuals, businesses and communities can thrive and promote people-to-people exchanges.”

Chao Zhan, Vice President of NUCC of China (NetsUnion Clearing Corporation), said “NUCC will actively provide interconnection clearing support for mobile payment services by market institutions both from home and abroad. Going forward, we will enhance our efforts in three aspects: improving the business continuity of binding international cards to domestic payment apps, making more overseas e-wallets available, and increasing the scale of point of sales that accept mobile payment services for international visitors.”

Jake Xue, General Manager, Global Business Services, Ant Group, said that “Seamless payment and consumer experience is critical for international travel as well as for broader cultural and economic exchange. Building on the International Consumer Friendly Zones program and more travel innovations, we will work with partners home and abroad to expand cross-border technology and service cooperation to support our new payment facilitation and opening initiatives.”

Introduced in 2020, Alipay+ has rapidly expanded its reach, connecting over 88 million merchants in 57 countries and regions to 1.5 billion consumer accounts. This initiative not only enhances the travel experience for consumers globally but also empowers merchants with a suite of digitalisation tools to boost revenue.

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