Chinese tourists have provided a much needed boost to other Asia-Pacific cosmetics markets in the last quarter, and the arrival of Alipay, the payment arm of Chinese e-commerce giant Alibaba, will make shopping in Japan and Singapore even easier.
Ant Financial, the Alibaba subsidiary responsible for Alipay, has struck a deal with several retailers allowing tourists to pay for goods using their Alipay accounts in store, by scanning QR codes with their smartphones. Recruit Co will roll out the service to 176,000 stores across Japan including duty-free stores and hair salons, while Hong Kong perfumery chain SaSa International have accepted Alipay since August.
By using Alipay, Chinese tourists will avoid transaction fees and exchange rate losses associated with using credit or debit cards. Recruit Co is also planning to offer special discounts to shoppers paying with the online service provider.