AliPay+ Transactions up 40% During Singles Day Shopping Event

During the 10 days leading up to China’s Singles Day shopping event, there was a 40% increase in the number of online transactions via the Alipay+ payment platform compared to the same period last year.

In terms of transaction volume increase, parent company Ant Group said in a Thursday (Nov. 10) press release that the digital and entertainment sector saw the highest level of user participation this year, achieving over 200% growth, followed by the online-to-offline and eCommerce sectors.

The growth was fueled by an increase in eWallet activity, with the company stating in the release that Southeast Asian wallets including GCash, TrueMoney, Touch ’n Go, DANA and Kakao Pay contributed to the increased transaction volume. During the 10-day period, the platform helped merchants accept payments from over 100 million digital wallet users, and first-time users of Alipay+ saw a large increase in sales.

“[F]irst-time merchants on average recorded a five-time increase in the number of eWallet users making payments and a three-time jump in total transaction volumes through Alipay+ compared with the previous month,” according to the release.

This year, eWallet users could access coupons to exchange for free gifts and deals offered by merchants listed on the Alipay+ Rewards section of their payment apps, the release stated.

“Alipay+ is dedicated to bringing more exclusive offers and benefits from merchants around the world to hundreds of millions [of] mobile-savvy consumers of our eWallet partners,” said Jing Yin, general manager of acquiring service and global strategic accounts at Ant Group, in the release.

In September, AliPay+ enabled merchants in South Korea to accept payments with the AlipayHK, GCash, Touch ’n Go and TrueMoney eWallets for the first time.

Ant Group also said in the release Alipay+’s global merchant coverage has more than doubled to over 2.5 million over the past six months.

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