Sri Lanka’s Dialog Axiata partners with China’s Alipay to provide mobile wallet service to Chinese visitors
Dialog Axiata of Sri Lanka has reportedly partnered with China’s Alipay, the world’s largest mobile and online payment platform, to extend Dailog’s eZ Cash mobile wallet service to Chinese tourists in the island nation.
“The Alipay mobile wallet service will now be available at merchants to cater to the needs of Alipay users from China, who frequently travel and shop in Sri Lanka,” a statement has reportedly noted.
“The partnership with Dialog will enable Alipay payment acceptance at a large base of local merchants, creating opportunities for local merchants to better target the large number of visiting Chinese tourists and expatriates living in Sri Lanka,” Cherry Huang, General Manager for Alipay Cross-border Business in South and Southeast Asia has been quoted as saying in the local media.
Supun Weerasinghe, Group Chief Executive of Dialog Axiata has been quoted as saying that the deal to facilitate Alipay customers with their payments in Sri Lanka through Dialog’s 20,000 strong eZ Cash retail partner network eliminates the hassle of converting currency.
“Through its first partnership in Sri Lanka, Alipay intends to expand reach by leveraging Dialog’s multiple merchants and touchpoints, extending payment services to Chinese visitors in Sri Lanka,” the statement has also noted.
Alipay, the Alibaba affiliated mobile payments arm of China’s Ant Financial Services Group, is the highest valued fintech company in the world.
OSL take:
The partnership between Sri Lanka’s Dailog Aixata and China’s Alipay would provide an additional boost to the island nation’s tourism sector. The number of Chinese visitors to Sri Lanka has been on a continuous rise. However, the latest partnership would result in an increase in the number of Chinese tourists visiting Sri Lanka. Foreign investors could look at engaging in similar partnerships with local businesses. On the other hand, given the convenience in financial transactions offered in Sri Lanka for Chinese visitors, Chinese businesses could look at forming more partnerships with Sri Lankan businesses and entering the island nation’s economy.
| Article Code : | VBS/AT/20181128/Z_2 |