SA fintech company targets Chinese tourist market

ACI Worldwide, a provider of real-time electronic payment and banking solutions, and Alipay will launch Alipay in South Africa, via a local fintech company, Peach Payments.

Alipay, operated by Ant Financial Services Group, is the world’s largest online and mobile payment platform with more than 450 million active Chinese users.

The company enables merchants to effectively gain share in the world’s largest e-commerce market through a payment method and lifestyle platform for Chinese travellers.

China is the world’s largest outbound tourism market, with 135 million travelling abroad in 2016, representing a 6% growth on the previous year.

Peach Payments noted that there are more than 10,000 Chinese tourists arriving in South Africa each month and the Chinese are among the highest per capita spenders when travelling abroad.

City Sightseeing, which operates open-top ‘hop on hop off’ bus tours in Cape Town and Johannesburg, will be the first local merchant in Africa to offer Alipay as part of its mobile and e-commerce strategy.

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SA fintech company targets Chinese tourist market