Alipay+ and Khan Bank collaborate to enable digital payments:
Users of 12 popular international e-wallets from 8 countries and regions can now enjoy seamless mobile payments in Mongolia, thanks to a partnership between Khan Bank, Mongolia’s leading full-service bank, and Alipay+, a cross-border mobile payment and digitalization solution by Ant International.
Ms. Erdenedelger Bavlai, First Deputy CEO of Khan Bank, and Mr. Frank Piao, Country Manager of Alipay+ Mongolia, officiated the partnership ceremony at Khan Bank HQ, Mongolia. With Alipay+, users of various Asian and European e-wallets can experience secure payments in Mongolia at participating merchants displaying the Alipay+ logo, including hotel chains, restaurants, department stores, and cashmere outlets. Merchants can accept payments through the same QR code interfaces in physical stores or via the user’s app.
Additionally, Alipay+ marketing solutions enable local merchants to create promotions, distribute digital coupons, and offer discounts directly to e-wallet users, enhancing marketing efficiency and reach.
The e-wallets now accepted in Mongolia include Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), Tinaba (Italy), MyPB by Public Bank Berhad and Touch ‘n Go Digital (Malaysia), GCash (The Philippines), Changi Pay and OCBC Digital (Singapore), Kakao Pay, Naver Pay, Toss Pay (South Korea), and TrueMoney (Thailand).
To celebrate this partnership, promotional activities will run through October 2024, offering users of AlipayHK, MyPB by Public Bank Berhad, GCash, OCBC Digital, Kakao Pay, Naver Pay, Toss Pay, and TrueMoney a 10% instant discount on Khan Bank’s POS terminals. More mobile payment services are expected to join soon.
Ms. Erdenedelger Bavlai expressed delight in expanding the partnership with Ant Group to accept digital payments from users in eight countries and regions via Alipay+ on Khan Bank terminals, enhancing tourism and providing seamless payment options for visitors.
Mr. Danny Chung, General Manager of Alipay+ Korea, Europe, Middle East, and Mongolia, highlighted Mongolia as a popular destination for international travelers. This partnership marks a significant milestone for Alipay+, connecting local businesses with international visitors and offering better travel experiences and greater business opportunities for local merchants.
Post-COVID, Mongolia has seen an increase in inbound travelers. The Government of Mongolia aims to attract 1 million tourists from 2023 through 2025, designating 2024 and 2025 as years to visit Mongolia.
Introduced by Ant International in 2020, Alipay+ connects over 88 million merchants in more than 50 countries and regions to over 25 e-wallets and bank apps, facilitating hassle-free global travel and payments.
In addition to Mongolia, Alipay+ partner wallets are accepted in major destinations, including the Chinese mainland, Hong Kong SAR, Singapore, Thailand, Malaysia, The Philippines, South Korea, Japan, Europe, and the Middle East.
About Khan Bank
Khan Bank is the largest bank in Mongolia providing comprehensive financial
products and services to its 2.9 million customers or 82 percent of the total
population through its digital channels and 547 branches nationwide and ranks as
number 2 in the country’s Top 100 private entities. Khan Bank supports MSMEs,
which are the key drivers of the country's economic growth, by offering business loan
products and non-financial services such as customer training and advisory and
consulting services through its SME Business Centre. In recent years Khan Bank has
been actively implementing projects in line with sustainable development initiatives,
aiming to be greener and offering environmentally-responsible products and services.
For more information, visit www.khanbank.com.
About Alipay+
Alipay+ is a suite of cross-border mobile payment and digitalization technology
solutions that help connect global merchants to consumers. Consumers enjoy
seamless payment and a broad choice of deals using their preferred payment
methods while travelling abroad. Small and medium-sized businesses may use
Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
