- Alipay and AlipayHK said that the companies have seen an uptick in transactions as part of the recent holiday to mark the start of the Year of the Rabbit.
- The growth in outbound transaction volumes over the course of the period between 21 January and 26 January showed a rise of 150%.
- “AlipayHK, the most popular e-wallet in Hong Kong, with 3.3 million active users, saw transactions in the mainland and Macau jump 18 times from January 21 to 24, compared to the same period last year,” the firm said in a statement.
AlipayHK, a major payment service in the Chinese fast money transfer world, has confirmed that it saw an increase in cross-border transactions around the time of the Chinese New Year holiday.
There was a 150% increase in outbound transaction volumes over the course of the period between 21 January to 26 January, the company said.
The firm also revealed that the Special Administrative Regions of Macau and Hong Kong benefitted particularly and had the highest level of visitors for customers from the Chinese mainland.
In Macau, the company said the rise from such tourists was 100%, while in Hong Kong, the rise was around 70%.
In a statement to the press, the company shared more details about the context behind the changes. It said that the rise came against a backdrop of reduced travel restrictions.
“On 8 January, China announced its first steps to reduce travel restrictions between the mainland and Hong Kong, lifting quarantine requirements that were in place for almost three years,” it explained.
It added that the public holiday created the conditions for a rise in international travel outbound from the Chinese mainland.
“The Chinese New Year public holiday witnessed a surge in cross-border travel between the mainland and overseas markets as mainland consumers resumed overseas travel and travelers from Hong Kong and Macau piled back to the mainland, mostly for family reunions or leisure activities,” it said.
It went on to say that more than three million active users were involved in AlipayHK.
“AlipayHK, the most popular e-wallet in Hong Kong, with 3.3 million active users, saw transactions in the mainland and Macao jump 18 times from January 21 to 24, compared to the same period last year,” it said.
It also pointed out that there had been a huge rise in transaction completion levels in a year-on-year timeframe.
“The number of AlipayHK users that completed a transaction in the mainland and Macau also soared 15 times year-on-year in the same period,” it explained.
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