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Mi-Pay Group Plc

Mobile payments skyrocket during Chinese ‘Golden Week’

Mobile payment use among Chinese consumers rose significantly last week during China’s Golden Week holiday, according to Alipay, the payments arm of Chinese e-commerce service Alibaba.

Destinations such as the Bicester Village outlet shopping center in the U.K., the Dotonbori zone in Osaka, and the Sydney Airport in Australia saw  90-, 70- and 55-fold increases in Alipay payments, according to a report by Techwire Asia. Other locations such as Paris, Bangkok and Toronto also saw significant increases in mobile payments from Chinese travelers.

 

Mi-Pay Group PLC (LON:MPAY) engages in assessing, managing, and mitigating fraud risks in the cardholder-not-present payment solutions market in the United Kingdom, Ireland, rest of Europe, and internationally. It provides an outsourced secure payment services platform for instant top up and digital content services primarily in the mobile sector.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.