Fave -- an online-to-offline (O2O) mobile platform -- has collaborated with Alibaba's Ant Financial to provide Chinese travellers a seamless cross-border payment experience when they shop in Singapore.
Alipay users will now be able to pay via the Alipay app at restaurants and offline retailers in the republic that are part of the Fave ecosystem, as well as gain special access to offers and rewards.
"[This move provides] Chinese travellers the safe, efficient and convenient payment services that they are used to at home," said Dayong Zhang, head of Southeast Asia, Alipay.
He added that the service also enables restaurants and retailers "easily reach out to new customers that will ultimately help them grow their business." This is because the number of Chinese tourists visiting Singapore is expected to increase to 3 million this year. According to the preliminary estimates by the Singapore Tourism Board, more than 2.8 million Chinese travellers spent more than S$3 billion when they visited Singapore from January to September last year.
With more than 1 million active users and 10,000 restaurants and offline retailers across Southeast Asia, Fave plans to extend the service to the region in time to come.
"Currently, millions of users across Southeast Asia use Fave to discover and transact at restaurants and lifestyle retailers. This win-win partnership with Alipay will give our retail partners more revenue and more customers," said Joel Neoh, founder of Fave.