Local cashless payment platform Pi Pay has partnered up with Alipay, the most popular online and mobile payment solution in China, to offer a new level of convenience to Chinese travellers visiting the kingdom.
Pi Pay has rapidly grown to become the go-to mobile payment option across the capital, with more than 168,000 downloads of the app and $27 million being spent or transferred by users.
The partnership will see Alipay become immediately available as a payment option for Chinese tourists across Pi Pay’s merchant network in Cambodia, which consists of more than 1,400 businesses at the moment, including everything from high-end dining, haute couture fashion and spa treatments to mini-marts and petrol stations.
The acceptance points will cover Phnom Penh for now, with Siem Reap and Sihanoukville being added in the near future, according to the two companies.
Under the new partnership, Chinese tourists travelling to Cambodia will be able to use the Alipay app for payment wherever Pi Pay QR codes are available. Cambodian merchants who are partnered with Pi Pay will be able to use their Pi Pay terminals to take payments from Alipay users.
With Pi Pay’s established position as Cambodia’s cashless payment option of choice, and with the increasing numbers of Chinese visitors expecting the convenience of paying for goods and services with their phones as they do at home, the partnership was a natural decision, said Tomas Pokorny, the CEO of Pi Pay.
“Pi Pay’s success in demonstrating the demand for cashless payments in Cambodia has been recognised by Alipay. We look forward to working together to increase the number of places across the country where Chinese tourists can make cashless payments,” he said.
“With the Cambodian Ministry of Tourism predicting two million Chinese visitors a year by 2020 and with so many of them fully appreciating the life-changing effects of living a cashless lifestyle, this will mean good business for Cambodia and for our merchant partners who will benefit from this growth in their client base,” he added.
Yin Huang, the cross-border business lead at Alipay, said Cambodia is quickly gaining popularity as a tourist destination among Chinese travellers and the new partnership seeks to capitalise on the 900,000 Chinese tourists who visit the kingdom every year.
“Alipay aims to enable the smart lifestyle for Chinese customers and bring the convenience that they enjoy at home to overseas countries they travel to, and we achieve this through our continuous efforts to expand our merchant and partner ecosystem globally,” she said.
“The Alipay platform will allow local merchants to reach the 520 million active Alipay users remotely through the app before and after their trips to Cambodia. This will enhance and create a new retail experience for consumers.”