Alipay+ Partners with LankaPay to Boost Cross-Border Digital Payments

Published 6 months ago

Alipay+ has entered into a Memorandum of Understanding (MoU) with Sri Lanka’s National Payment Network, LankaPay, to improve inbound and outbound travel experiences via cross-border digital payments. This partnership allows Alipay+ payment partners’ users to make payments effortlessly at over 400,000 LankaQR merchants throughout Sri Lanka.

Enhancing Global Payment Experiences

Sri Lankans can now use their LankaQR-enabled apps to scan and pay at Alipay+ merchants worldwide. By early 2024, leading Asian e-wallet users, including those from Hong Kong SAR, Philippines, Singapore, South Korea, and Thailand, can use cashless payments when visiting Sri Lanka with Alipay+. They simply need to scan LankaQR.

LankaQR, a project initiated by the Central Bank of Sri Lanka, aims to standardize and make interoperable all QR codes and QR-based transactions in Sri Lanka. LankaPay operates this network, introduced in 2020, as Sri Lanka’s National Payment Network operator.

Partnership to Benefit Asian Tourists and SME Merchants

LankaPay CEO Channa de Silva expressed delight over the partnership with Alipay+, calling it a significant milestone for facilitating seamless cross-border transactions.

“We believe this partnership will provide greater convenience to Asian tourists visiting Sri Lanka and a more acceptable proposition, especially to the SME merchants with substantially low commission rate compared to card payments,” said de Silva. The partnership is expected to encourage more SME merchants to join digital platforms, essential for developing the country’s digital eco-system and boosting the tourism industry and national economy.

By the end of 2024, all e-wallets supported by LankaPay will be accepted by Alipay+’s global merchant network. This will allow Sri Lankans traveling abroad to pay easily with their familiar home e-wallet. Alipay+ is currently accepted at tens of millions of merchants in over 50 countries.

Joint Marketing Efforts to Promote Sri Lanka

Alipay+ and LankaPay will also collaborate on joint marketing efforts to promote Sri Lanka as a tourist destination and tourism-related local businesses overseas.

Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant Group, highlighted the partnership’s potential to enhance tourist experiences and drive local business growth. “Alipay+ continues to accelerate the shift towards digital travel in more regions through our integrations with national standardized QR codes, this time in Sri Lanka with LankaPay,” Huang stated.

Boost to Sri Lanka’s Tourism

Sri Lanka has been experiencing a boom in tourism, with tourist arrivals increasing month-on-month. The Sri Lanka Tourism Development Authority expects to exceed its target of 1.5 million visitors for the year.

The partnership between Alipay+ and LankaPay can potentially attract more Chinese and Asian tourists, especially as Asian consumers often use digital solutions like e-wallet payments. Local businesses must adapt to these new digital habits. The acceptance of LankaQR by merchants across the country will encourage tourists to make seamless payments at more attractions in Sri Lanka, promoting the island’s lesser-known attractions.

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