Anticipating Increased Travel Demand During Chinese New Year, Alipay Makes Preparations
In the lead-up to the Chinese New Year 2023, also known as the Year of the Snake, the anticipation for travel was high. This annual event, known as Chun Yun (Spring Festival travel rush), is a peak travel period in China, and the numbers reflect this.
According to data from 2023, rail travel accounted for about 24.48% of all passenger traffic in China's commercial transportation modes, totaling approximately 3.86 billion passengers for the year[2]. Considering Chinese New Year is the busiest travel time, a substantial share of this volume occurs during this period. China's railway network, including high-speed rail, was extensive in 2023 with an operating length of around 159,000 kilometers[1]. The high-speed rail network, heavily used during Chinese New Year, is the world's longest and most extensively used, facilitating massive passenger flows during holidays[3].
While no specific air travel figures for Chinese New Year 2023 are available, China’s air travel sector usually experiences a surge during this period as well, complementing rail travel. The travel peak often results in hundreds of millions of trips combining air and rail modes.
During this bustling travel season, Alipay, the dominant digital wallet and mobile payment app in China, expanded its reach. In 2023, Alipay approved 10 foreign-based mobile wallets to integrate with its payment app, allowing residents of several other countries to use their home nation's apps to make payments within China[4]. This strategic move led to a tenfold increase in usage by foreign tourists in 2023 compared to the previous year[5].
Moreover, the overall number of Alipay's active users grew sixfold during the same period[6]. To cater to the surge in travelers, Alipay and its affiliated payment apps offered special promotional packs in over 100 Consumer Friendly Zones in cities all over China[7].
It's important to note that while information on Alipay's initiatives for Chinese New Year 2023 is available, specific details about partnerships with merchants targeting travelers during this period are not explicitly mentioned in the search results.
Looking beyond the Chinese borders, tourism spending across Southeast Asia is expected to rise by more than 330% by 2027[8]. Alipay's rival, WeChat Pay, has 800 million users and a 38% market share[9]. However, no new facts about WeChat Pay were mentioned in this context.
References:
- China Railway Corporation
- China Statistical Yearbook
- China High-speed Rail
- Alipay
- Ant International Report
- Ant International Report
- Alipay Promotions
- Tourism Authority of Thailand
- WeChat Pay
The surge in travel during Chinese New Year 2023, also known as the Year of the Snake, extended to the realm of finance, with Alipay, the dominant mobile payment app in China, experiencing a significant increase in usage by foreign tourists, tenfold compared to the previous year. On the other hand, business opportunities in lifestyle sectors, such as travel and hospitality, are projected to skyrocket across Southeast Asia by more than 330% by 2027, potentially benefiting other digital payment providers like WeChat Pay, which boasts 800 million users and a 38% market share.
