Ant Group increases transaction limits

The additional policies apply to Ant’s twin cross-border mobile payment solutions, with international travellers having the ability to download the Alipay app and bind their international cards, or leverage their home wallets to pay thanks to Alipay+, the cross-border payment solution provided by Ant International. As of the beginning of February 2024, users of ten of these wallets were set to receive an improved payment experience on the 80 million merchant network in China, including AlipayHK (Hong Kong SAR, China), MPay (Macao SAR, China), Hipay (Mongolia), Changi Pay and OCBC Digital (Singapore), Touch ’n Go eWallet (Malaysia), Kakao Pay, Naver Pay and Toss Pay (South Korea), and TrueMoney (Thailand).

Furthermore, in March 2024, China’s State Council  launched a guideline aiming to further optimise payment services and increase payment convenience for international travellers. Also, the People’s Bank of China  (PBC) recently announced that it was set to guide payment platforms to raise the single transaction limit for foreign nationals using mobile payment services from USD 1,000 to USD 5,000 and the annual transaction limit from USD 10,000 to USD 50,000.

In the case of expats and other international visitors, Alipay introduced multi-language translation functions, as travel to China is projected to increase in 2024 with new visa-free policies and efforts to raise the number of international flights. To further support this, data from Alipay showcased that during the Chinese New Year 2024, spending expanded by 500% via international card-enabled Alipay accounts at merchants in the Chinese mainland compared to 2023.

As part of its broader efforts, in September 2023, Ant International introduced the Alipay+-in-China (A+ China) Program, which allowed ten Asian e-wallets to be leveraged in the Chinese Mainland. Customers from Malaysia, Mongolia, Singapore, South Korea, Thailand, Hong Kong SAR, and Macao SAR were enabled to pay with their home payment apps at merchants across the region wherever Alipay operates. Alipay+ underlined its intentions to widen the service coverage of overseas wallet users, including broader public transportation and ride-hailing services. Asian e-wallets had a positive response to this development, with them stating that it can make travel within the region more convenient for users.

According to Touch ‘n Go’s officials, by raising transaction limits, the company supports its commitment to simplifying the users’ travel experiences, while enabling them to explore an array of local merchants, offering increased flexibility. Additionally, representatives from MPay underscored that the policy assists in promoting the economic development and integration process of the Greater Bay Area, further upgrading the payment experience and satisfaction of international tourists visiting Macao.