Brought to you by: Pastor Real Estate & Barclays
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.”
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.
A rare survivor of the nuclear blast that effectively ended World War II in the Pacific has spoken to a group of mesmerised students and staff members at Lycée Albert I. Organised by the International Campaign to Abolish Nuclear Weapons (ICAN), The high school’s history and geography class were told the incredible and sad true […]
October has come to be known as ‘Pink October’ and many Monegasque organisations, as well as the government, are supporting the cause. Roughly two million women were diagnosed with breast cancer last year worldwide and of those an estimated 627,000 will die from the disease. That comes out to 15% of all cancer deaths for […]
A joint meeting was held last week between the Monegasque Ambassador to the US and Honorary Consuls from nine major North American cities to discuss collaborative efforts for the next calendar year. Considered one of America’s greenest cities, Seattle was the setting for the confluence and attracted the Monaco representatives for its achievements regarding environmental […]
The Princess Grace Foundation-USA will be paying tribute to their namesake, Princess Grace of Monaco, during a special fundraising gala this November. The celebration will mark the 90th anniversary of the birth of the Hollywood icon and beloved Princess of Monaco. Known throughout the world as a humanitarian, philanthropist, and artist, Princess Grace was committed to […]