Alipay+: The payment solution to conquer the Asia-Pacific market
The increased availability of QR code-based solutions, which have enabled small merchants to quickly accept digital payments without putting in place any additional point-of-sale (POS) infrastructure, has also helped drive mobile payment adoption, especially in Asia.
In South Korea for example, GlobalData estimates that the value of e-wallet transactions will triple from $181.6 billion in 2020 to $503.5 billion by 2024.
In China, it is not strange to find a Chinese citizen who does not have a bank card. With only a phone and apps like WeChat or Alipay, Chinese consumers can pay whenever and wherever they want with a simple QR code scan. It is also not strange that a Chinese has a UnionPay card if he has a bank card.
The same goes for consumers in other Asia-Pacific countries. Thus, it has become necessary for merchants to adapt their service proposition, including payment services.
Since the beginning of the collaboration with Alipay in 2016, Silkpay has equipped more than 1500 points of sale and e-commerce with the Alipay mobile payment service. In 2022, the partnership between Alipay and Silkpay proved its worth once again by launching the Alipay+ service.
Thanks to this payment system, merchants can accept the main e-wallets in Asia-Pacific via 1 unique solution.
What is Alipay plus?
Alipay+ is a payment system launched by Alipay in 2022 to connect merchants and consumers around the world.
By integrating Alipay+, merchants can automatically accept the most popular e-wallets in China, South Korea, Philippines, Thailand, Indonesia, Malaysia, India, Japan etc.
The merchant does not need to open an account for each country-specific e-wallet but can accept everything in Alipay+'s all-in-one system.
Who can benefit from Alipay+?
All European merchants carrying out a legal activity can benefit from Alipay+ solution. Retail stores, hotels, restaurants and transport companies, supermarkets etc. can accept payments made through the 10 major e-wallets in Asia Pacific without constraints for both the merchant and the customer.
How does Alipay+ work?
If you are already a Silkpay customer, you can simply contact our customer service to add the Alipay+ option.
If you are not a customer yet, to open an account, you will have to send us the documents below. There are no maintenance fees. Our fees are based on commission. Do not hesitate to contact our team for more details on the rates.
Your company’s registration certificate
The articles of association (signed and sealed)
Identification documents and proofs of address (administrative invoice for example) dating from less than three months of legal representative and shareholders (holding > 10% of capital or voting right)
The company’s bank account number
E-wallets included in Alipay+:
Alipay
The most used payment method in China. Alipay now has more than 1.2 billion users, including more than 320 million daily users.
Alipay Hong Kong
Alipay is the most popular e-wallet in Hong Kong with around 67% penetration rate.
Kakao Pay - South Korea
A statista survey estimated that 91% of South Koreans were using Kakao Talk as of May 2021. Thus, 36.2 million of these users use its Kakao Pay e-wallet which accounts to 71% of south Koreans.
PayPay - Japan
PayPay, created in 2018, is the largest Japanese mobile payment app using the QR code. PayPay has more than 41 million registered users.
Dana - Indonesia
In 2019, the number of DANA users increased from 30 million to 35 million in a single quarter, becoming the most used wallet in the country.
G-Cash - Philippines
In 2021, the number of daily users stood at 23 million and the number of monthly active users increased 3.7 times compared to 2020. The company recorded 17 million daily transactions in 2021.
Touchngo - Malaysia
The Touch'n Go e-wallet has maintained its dominant position in the e-wallets category throughout 2021, and remains the most used in Malaysia with a rate of 75%.
True Money - Thailand
With 15 million users now. Every month, Truemoney sees a 25% increase in the number of users, fueled by online payment in several categories.
Paytm - India
The Paytm e-wallet is used by more than 30 million active users monthly out of 333 million registered users. This number is due to its ease and flexibility.
Advantages of Alipay+:
Conquer the Asia-Pacific market through cross-border e-commerce:
Countries in the Asia-Pacific region have quickly become one of the main drivers of e-commerce growth. Based on studies conducted in 2020, the region represented the global e-commerce sales, accounting for $2.24 billion of the $3.54 billion in global revenue in 2019. This growth in Asia-Pacific market share continued, reaching $3 billion in 2021.
Easy and secure:
Transactions are fast and secure, just like the payment via Alipay, the transaction is concluded after a simple QR code scan.
In addition, having a stricter perception of time, the ease and speed of the customer journey seduces Asian customers during the payment phase.
More spending in your store:
Customers are likely to spend more at a store that offers their preferred payment methods. It is also more likely that a satisfied customer will return to buy from your store driving more and more recurring payments.
Access to more than 2 billion consumers:
Whether at the point of sale or cross-border e-commerce, Asian customers can access your products and services without restrictions or payment issues.
Marketing services that allow you to get to know yourself in Asia:
The Alipay+ solution helps merchants promote their stores, products and services by launching promotional events (Flash offers, Invite & Win) and distributing coupons, etc.
Thanks to these marketing services integrated into the Alipay+ system, Silkpay will help your store make the first transaction and make more sales during your activity.