Various global payments companies continue to recognise the value of the gaming sector, with AliPay the latest to sign a commercial agreement targeting the industry.
The Chinese multinational payments giant has struck a deal with Sands China, in a joint arrangement with fintech and payments services firm Macau Pass. The agreement will see the duo’s payments technology integrated at Sands Resorts Macao properties.
AliPay’s tap-to-pay technology, AliTap, is the crux of the integration. In a phased approach, Sands China has already rolled out the payment method across 300 merchants at its Venetian Macao, Parisian Macao, Londoner Macao and Sands Macao casinos.
Tap-to-pay is proving a popular payment method worldwide, valued by consumers for its convenience and ease-of-use. The gambling sector is no exception to this, and AliPay, as the world’s largest payments processor by volume, is keen to ensure it is ahead of the curve in all sectors.
Jiajia Li, Vice President of Alipay at the platform’s parent company Ant Group, said: “Macao has unique geographic advantages, providing an ideal environment for the introduction of innovative technologies.
“Alipay and Alipay+’s cross-border services have already covered nearly 90% of merchants in Macao. The successful introduction of Alipay Tap! in Macao will further enhance the convenience of payments for Chinese mainland visitors, accelerate the digital transformation of businesses, unlock more commercial potential, and promote the digital connectivity of digital everyday services within the Greater Bay Area.”
Macau is an autonomous region of China and is one of the country’s tourism hotspots. The integration of AliPay at one of the region’s biggest casino resorts is indicative of AliPay’s reach across various geographies and markets.
Founded in China in 2004 by Hangzhou-based multinational tech and e-commerce giant Alibaba Group, AliPay has emerged as one of the world’s largest and most successful mobile payments firms, surpassing PayPal in terms of volume.
It is notable that though casinos form a huge part of Macau’s economy, Chinese nationals from the mainland are not able to gamble there – the sector relies entirely on overseas tourists for its legal gambling trade.
AliPay’s servicing of the industry despite its base in mainland China shows the extent of its reach, as well as the range of Chinese financial services in general. This is something that has been noted by overseas governments also, with the UK notably putting aside some of its major political differences with Beijing to sign a new cooperation agreement around financial services.
Regarding the Macau integration, AliPay stresses that the deal with Sands China demonstrates interactions between digital finance and that it will enhance the convenience of mobile payments in the autonomous region.
“Sands China is proud to be the first in Macao to offer this innovative payment technology,” said Allan Chung, Vice President of E-Commerce and Digital Marketing of Sands China Ltd.
“By deeply integrating it across various business operations within Sands Resorts Macao, we have significantly enhanced the payment experience, making it smoother and more convenient for both domestic and international visitors.
“This initiative also helps foster an environment for the digital economy and technological innovation in Macao. Sands China will continue to collaborate with innovative technology partners, while actively supporting the Macao SAR Government’s smart city development agenda. We are committed to ensuring that convenience and the latest digital services are easily accessible, and contributing to the quality growth of Macao’s tourism industry.”