American Express and Alipay have partnered to integrate global Amex cards to the Alipay digital wallet.
“Our collaboration with Alipay helps advance our commitment to providing an exceptional experience to American Express Card Members traveling to and within China. By integrating with Alipay’s digital wallet, we are empowering our card members with more ways to transact and connect with a vast network of merchants across China,” said Mohammed Badi, President of Global Network Services at American Express.
Cyril Han Xinyi, President of Ant Group, added: “Travel is an essential link for global connectivity and shared prosperity. We are thrilled to expand our collaboration with leading industry innovators like American Express, continuously developing a vibrant and mutually beneficial ecosystem. Through consistent breakthroughs in innovation, we aim to help small businesses achieve cross-border growth and enable people to deepen cultural understanding and mutual trust through safe and convenient travel experiences.”
Jonathan Vaughan Burleigh, Associate Analyst, Banking and Payments at GlobalData, publishers of EPI offers his view:
“While it has been possible to link foreign credit cards and debit cards with Alipay’s digital wallet since 2023, American Express is the first foreign company that has been allowed to clear transactions in the local currency (Chinese Yuan). This collaboration between two of the world’s largest payment providers marks a significant step forward, providing enormous convenience for international tourists and businesspeople traveling to mainland China. With this integration, users can now make seamless payments in stores, on public transport, and across the country’s major super-apps.
“Conducting transactions in the local currency greatly reduces uncertainties associated with functionality, fees, and exchange rates that often come with mobile payments. Although larger stores, hotels, and attractions in major Chinese cities generally support foreign payments, smaller retailers, such as restaurants, bars, and even larger businesses in second-tier cities, are less likely to accept them, even through Alipay’s digital wallet. This local currency capability, therefore, bridges an important gap in the payment infrastructure.
“Additionally, varying fees and service charges across different networks have traditionally introduced uncertainty and friction in foreign transactions. The ability to pay directly in Chinese Yuan not only streamlines the payment process but also alleviates concerns over additional expenses or unfavorable exchange rate differences.
