Breaking News

The number of people officially infected with Covid-19 has risen to 84 in Monaco: 5 cured, 11 hospitalised, 3 in ICU

Monaco signs up with biggest online payment platform

Monaco signs up with biggest online payment platform

By Staff Writer - June 27, 2017

Photo: Jason Howie
Photo: Jason Howie

The Monaco government and Alipay, the world’s biggest online and mobile payment platform, operated by Ant Financial Services Group, have signed a memorandum of understanding to allow Chinese customers to pay without cash in Monaco.

The memorandum of understanding (MoU) was signed on Tuesday, June 27, at Thermes Marins by Minister of State Serge Telle, Douglas Feagin, Senior Vice-President of International Development at Ant Financial Services Group, and Tony Duan, Vice President of Fliggy Travel, the new name for Alitrip.

The Minister of State said: “The future is mobile payment, and China is at the forefront of innovation in this field. We are delighted to be able to offer these contactless payment methods to Chinese tourists visiting our Principality and we hope to reap the benefits of this partnership.”

Gvt-Alipay Agreement: HE  Serge Telle, Minister of State (center), Douglas Feagin, Senior Vice-President of International Development, Ant Financial Services Group (right) and Tony, Vice President of Fliggy Tavel (left). © DR
Gvt-Alipay Agreement: HE Serge Telle, Minister of State (center), Douglas Feagin, Senior Vice-President of International Development, Ant Financial Services Group (right) and Tony, Vice President of Fliggy Tavel (left). © DR

The Chinese market is increasingly important for Monaco, although the 2016 figures were significantly lower than in 2015 due to the attack in Nice last July.

Operated by Ant Financial Services Group, Alipay launched in 2004, and now has more than 450 million active users and more than 400 partner financial institutions. In addition to online payments, Alipay is entering the in-store payment market both in China and abroad. More than eight million shops accept Alipay in China and more than 120,000 shops in the rest of the world.

In Monaco, several hotels, restaurants, luxury boutiques and souvenir shops have already joined the Alipay platform. The signing of the MoU is expected to lead to a growth of the number of businesses accepting this type of payment in the Principality.

 

READ ALSO

Drunk Brit steals car, smashes into Chinese restaurant in Larvotto

READ ALSO

Top analyst from Top Marques focuses on China

shares
SHARE
Previous articleIUM celebrates 29th graduation ceremony
Next articleTop award for New York Tourism Office

daily

Cassandra Tanti

The National Council and government have come together for the 3rd Joint Monitoring Meeting on Covid-19.

0
Stephanie Horsman

As lockdown continues, the fire brigade of Monaco is taking additional steps to ensure the rules of confinement are respected, notably by integrating a drone as part of its public safety repertoire.

0
April 9, 2020 | Local News

National Council elections

Stephanie Horsman

The Assembly has unanimously re-elected Stéphane Valeri as President of the National Council, with Brigitte Boccone-Pagès remaining as Vice-President.

0
April 7, 2020 | Local News

Bikini maker and drone company step up

Stephanie Horsman

Two Monaco-based companies are doing their bit to help during the Covid-19 pandemic.

0