Mastercard and Ant Group Expand Digital Payment Zones In Western Chinese Cities: Details
Portfolio Pulse from Nabaparna Bhattacharya
Mastercard and Ant Group have expanded their International Consumer Friendly Zones program to Chengdu and Chongqing in Western China, in response to increased inbound travel and international tourism. This initiative will enhance digital payment visibility and options in over 60 primary shopping districts, tourist sites, airports, and railway stations. Spending by international visitors using digital payment methods surged 13 times in the first half of 2024 compared to the previous year.
July 03, 2024 | 4:49 pm
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Mastercard has expanded its International Consumer Friendly Zones program to Chengdu and Chongqing, enhancing digital payment options and visibility. This move is expected to boost international tourism and trade, leading to increased transaction volumes.
The expansion of digital payment zones in key tourist destinations is likely to increase transaction volumes and revenue for Mastercard, as international visitors adopt these payment methods.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Visa is indirectly involved in the expansion of digital payment zones in Chengdu and Chongqing through its partnership with Ant Group. This initiative is expected to increase the use of Visa cards bound to the Alipay app by international visitors.
Visa's involvement in the initiative through the Alipay app is likely to increase the use of Visa cards by international visitors, boosting transaction volumes and revenue.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50