MPay reports 200% growth in payment volume by local users in Japan in Q1

MPay’s cross-border payment service, launched by Macau Pass in August 2023, has recorded significant growth in transactions in Japan during the first quarter (Q1) of this year, the company has said.

In Q1, MPay’s transaction volume and number of transactions in Japan increased by over 200% when compared to the fourth quarter (Q4) of 2023.

The company attributed the growth to stronger support for the digital economy and cross-border payments.

Macau Pass has noted that Japan was one of the first countries where MPay launched cross-border payment services through Alipay+.

Japan is also a popular travel destinations for local residents, particularly at the end of the Q1 with the influx of the so-called “Cherry Blossom Tourists.”

Currently, individuals from Macau can use MPay to shop at participating stores in Japan, settle transactions in MOP, and enjoy favorable exchange rates.

The company has expanded its coverage to over fifty countries overseas, allowing the MPay wallet within the Chinese mainland and Hong Kong SAR to be used globally for transactions.

Ant International has also announced its cross-border mobile payment solution, Alipay+, has connected two million merchants in Japan, enabling businesses of all sizes to seamlessly cater to global visitors using their home country e-wallets.

Alipay+ supports 16 e-wallets and bank applications in Japan, including MPay (Macau), Alipay (Chinese mainland), AlipayHK (Hong Kong), South Korea’s Kakao Pay, Naver Pay, and Toss, Singapore’s OCBC Digital, Changi Pay, and EZ-Link, Malaysia’s Touch ‘n Go eWallet and Public Bank Berhad’s MyPB, the Philippines’ GCash and HelloMoney, Thailand’s TrueMoney, Mongolia’s Hipay, and Italy’s Tinaba.

Transactions by ‘cherry blossom tourists’ using Alipay+ partner electronic payment platforms in Japan constitute 10% of the total expenditure by inbound tourists.