Alipay serves over 1.2 billion users together with its regional partners and is the preferred payment method of Chinese tourists1.
Through this strategic partnership, the two partners are looking to integrate their respective systems with one another and offer the market a flexible, on-demand digital payment solution through which Chinese tourists can conveniently use during their visit to Cambodia.
With the system now in place, Alipay users are no longer required to withdraw cash or perform cross-app money transfer to make payments across the Kingdom. They can simply complete their purchases by scanning the special QR code available at DaraPay-enabled merchant partners.
“We are excited to work with Alipay,” said Mr. Phok Ratha, General Manager of DaraPay. “Through this collaboration, Alipay users can now benefit from the convenience, simplicity, and security of our integrated system and merchant partners while enjoying their vacation in Cambodia.”
With DaraPay's more than 3,000 merchant partners, finding a store or service that accepts this integrated mobile payment should not be a trouble. Whether it is a transaction at a restaurant, café, and supermarket or payment for services such as ride-hailing, hotel, and entertainments, Chinese tourists can truly benefit by choosing the services of DaraPay’s merchant partners. Alipay customers who love shopping for apparel or trying out all types of delicious food can enjoy with the most popular Chinese tourist malls: Sorya Center Point or The Olympia Mall located at the heart of Phnom Penh City.
The future bodes well for the two partners with the number of Chinese tourists visiting the Kingdom continues to grow. Last year, statistically the nation welcomed over 1.7 million Chinese tourists, and the number is expected to rise to 3 million by 2020 and 5 million by 2025.
As the number of Chinese tourists to the Kingdom continues to surge, and following its strategic road map, DaraPay is on track with its collaboration with leading fintech platform Alipay.
Mr. Ratha continued, "The partnership with Alipay is an important step that takes DaraPay to the next level of our business development. We do not only collaborate with local businesses but we are also actively working with international partners as part of our new strategic roadmap to enter a new horizon. In the future, we are looking to collaborate with other international partners to bring better and more innovative services to cater to our customers both the locals and international ones.”
DaraPay is a trademark of CANADIA-FULLERTON MOBILE MONEY PLC., a corporation duly established in 2016. DaraPay is a joint venture between Canadia Investment Holding (CIH) of Cambodia and Fullerton Financial Capital (FFC), a subsidiary of Fullerton Financial Holdings (FHH) of Singapore, for the purpose of operating a mobile wallet and payments business in Cambodia. DaraPay’s services include Local Money Remittance, Cash-In / Cash Out, Utilities Bill Payments, Phone Top Up, Bill Payment, E-commerce Payment, Merchant Payment, Loan Repayment, Loan Referral, Payroll service, Mobile Wallet and other financial related products. As of August 2019, DaraPay has more than 4,500 agents nationwide and has more than 3,000 merchants available to accept the payment. Through DaraPay, thousands of people and families in both provinces and urban cities are sending money anywhere, any time at the peace of mind.
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Operated by Ant Financial Services Group, Alipay is the world’s leading payment and lifestyle platform. Launched in 2004, Alipay serves over 1.2 billion users with its local e-wallets partners as of June 2019. Over the years, Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Alipay’s in-store payment service covers over 50 markets across the world, and tax reimbursement via Alipay is supported in 35 markets. Alipay currently supports 27 currencies, and works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191117005080/en/
For media inquiry:
Mr. Phok Ratha, General Manager, CANADIA-FULLERTON MOBILE MONEY PLC.
Tel: +855 81 799 888