Alipay to push cashless experience across Japan for tourists before 2020
From the beginning of July to the end of August in 2018, the average consumption of each Chinese Alipay user in Japan reached near 3,900 yuan (USD 569).
Alipay, the world’s leading mobile and online payment platform operated by Ant Financial Services Group, announced that it will collaborate with a wider range of local Japanese partners to build a cashless environment for tourists coming to Japan, in particular for the Tokyo Olympic Games in 2020.
This will allow the large number of visitors coming from China the chance to enjoy easy payment methods that they are familiar with and provide business opportunities for local merchants in Japan. In addition, efforts will continue to extend Alipay coverage throughout Japan as one of the most popular tourist destinations for travelers from China and other Asian countries.
The number of Chinese tourists visiting Japan continues to increase year over year. Close to 7.35 million people came to Japan in 2017 with a YoY growth rate of 15.4%, and the inbound consumption from this group reached 1.6 trillion yen (USD 14.3 billion). This trend is likely to continue and the Olympic Games in 2020 are expected to be a peak with visitors attracted to the international sporting spectacle as well as the country’s famous locations.
According to Alipay's statistics, Chinese visitors’ spending through mobile payment is also growing rapidly. From the beginning of July to the end of August in 2018, the average consumption of each Chinese Alipay user in Japan reached near 3,900 yuan (USD 569). This average spending represented an increase of 52% compared with the previous year, and the total transaction volume grew by 165%.
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