Macau Pass to Co-operate with GCash, Touch 'n Go e-Wallet and True Money, the Leading e-Wallets in Southeast Asia, to Provide Acquiring Services, Has Been Approved
(Macau, May 11, 2023) – Macau Pass has been officially approved to provide acquiring services to Alipay+ market-leading partner e-wallets from the Philippines, Malaysia and Thailand. This means that in addition to Alipay, AlipayHK, WeChat Pay, Simple Pay and other e-wallets launched by other banks in Macau, Macau Pass payment devices can now also accept GCash, Touch 'n Go eWallet and TrueMoney, following South Korea's Kakao Pay.
Southeast Asia is the fastest-growing e-wallet region in the world, according to the 2021 Mobile Wallet report released by Juniper Research, a digital technology analysis company. With Southeast Asian governments' active efforts to promote the digital economy and the region's e-commerce boom, it is estimated that by 2025, six Southeast Asian countries (Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines) will have more than 440 million e-wallet users.
In 2020, Ant Group launched Alipay+, a suite of global cross-border digital payments and marketing solution, which enables businesses to accept its partner payment methods through a one-time integration. With the gradual recovery of the global economy, direct interaction with the growing number of consumers using Alipay+ partner e-wallets is positive for businesses in Macau to seek new business opportunities.
"Comprehensive and innovative digital solutions is the key to accelerate the digital transformation of Macau’s service industry," said Mr. Sun Ho, Chairman and CEO of Macau Pass. GCash, Touch 'n Go eWallet and TrueMoney, which come from the Philippines, Malaysia and Thailand respectively, have profound experiences in Southeast Asia and a significant user base in their markets. Through the cooperation with Alipay+, the innovative one-stop payment solution will accelerate the digital transformation of local merchants in Macau, create an connected international digital payments ecosystem for Macau, solve the problem of cross-border payment for international tourists, and help enterprises find new marketing growth opportunities.
At present, Galaxy Macau™, MGM, Sands Resorts Macao, SJM Resorts, S.A., Wynn Macau, Limited, Macau Fisherman's Wharf, Future Bright Group, Hotel Lisboa Macau, Lisboeta Macau, New Yaohan and TurboJET and other well-known enterprises in Macau are actively engaged in the launching of these three international e-wallets. At the same time, more enterprises are invited to join Alipay+ to attract more tourists and jointly promote business efficiency. With the gradual return of overseas tourists, especially those from Southeast Asia, Macau Pass believes that it can help Macau businesses to provide more convenient multi-scene services for overseas tourists and contribute to Macau's economic recovery and growth.
Mr. Sun said that as one of the leading mobile payments in Macau, Macau Pass’ MPay e-Wallet will continue to explore strategic cooperation with Alibaba Group and Ant Group to further expand e-commerce and digital media entertainment, develop and create a more diversified business scene, and explore commercialization opportunities in Macau's e-payment ecosystem.
About Alipay+ and the three Southeast Asian electronic wallets
Alipay+ offers unified global mobile payment and marketing solutions that connect merchants with multiple e-wallets and payment methods from different countries and regions by collaborating with global partners. Consumers can conveniently use their preferred local payment methods while transacting seamlessly in a different market and be able to enjoy marketing offers by the merchants through Alipay+. Alipay+ is developed by Ant Group, the owner and operator of Alipay, one of the world’s leading digital open platforms.
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 79M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.
GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.
About TNG Digital Sdn Bhd
TrueMoney is a Southeast Asia's leading fintech company providing financial services for users including the unbanked across 7 countries in Thailand, Cambodia, Myanmar, Vietnam, Philippines, Indonesia, and Malaysia. Established in 2013, TrueMoney has become a part of Ascend Group in 2014 and also a partner of Ant Group since 2016. Today, the company provides various financial services through TrueMoney Wallet, the most popular e-wallet application that enables convenience and ease of payments to serve every lifestyle. Its extensive agent network and offline payment service across Southeast Asia also enable millions of users in the region to access innovative financial services, leading them to better lives.
11/05/2023 Dissemination of a Marketing Press Release, transmitted by EQS News.