7-ELEVEN FIRST TO ACCEPT ALIPAY
Convenience store chain looking to attract more Chinese tourists
-ELEVEN Malaysia Bhd is the first retailer in Malaysia to accept the Alipay mobile wallet payment, and now looks to attract more Chinese tourists to shop at the convenience store chain.
Chief executive officer Gary Brown said 7-Eleven began accepting Alipay from May 12 and 94 per cent of the 2,100 stores nationwide had gone “live” with the system.
“All our stores will be able to accept Alipay within the next two days. In China, this payment system is a way of life for , and given the growing number of Chinese tourists here, we are hoping for a high uptake,” he told reporters after the launch of Alipay mobile wallet at 7-Eleven Bukit Bintang, here, yesterday.
The event was launched by Tan Sri Vincent Tan, the founder of Berjaya Corp, the majority shareholder of 7-Eleven Malaysia.
Brown said installing the system did not require a huge capital outlay as it can operate with the existing MOL terminal, made possible b y 7-Eleven’s strategic partnership with MOL Global Inc, a leading technology provider for in-store payment services.
Senior vice-president of international business for Alipay’s parent company, Ant Financial Services Group, Douglas Feagin said 2.1 million Chinese tourists visited Malaysia last year and the number is expected to grow to about 3.5 million this year.
He said these tourists were already familiar with the payment system’s mechanism and Alipay allowed them to connect with retailers here with information on what was being sold, promotions and store location.
“The number of tourists and merchants will increase and therefore, economic activity will also improve,” he added.
Meanwhile, Tan, also the majority shareholder of MOL Global, said in Thailand, Chinese tourists spend up to five times more per transaction at 7-Eleven stores via their Alipay mobile wallets compared to the average transaction in Malaysian stores.
“MOL will be an important partner for Alipay to recruit merchants both within and outside the Berjaya Group to boost the payment gateway’s acceptance, here.
“We will broaden Alipay’s reach into the Malaysian market by signing up more merchants from various industries. Our next plan is to rollout Alipay in all of the Berjaya Group of companies,” he added. Bernama