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Alipay to digitise businesses amid rising digital adoption due to Covid-19

AlipayAlipay, the mobile payment platform operated by Ant Financial, laid out plans to open up its platform and offer upgraded tools and features to help 40 million service providers digitise their businesses over the next 3 years. Simon Hu, CEO, Ant Financial apprised that as early as 2017, over three-quarters of the population had embraced digital payments and yet approximately 80 percent of China’s service sector still has yet to digitise operations.

Hu stated,”…Building a one-stop digital lifestyle platform not only creates immense value for our users – it will also play an essential role in accelerating the digital transformation of the service industry and unlocking more growth opportunities.”

During the Covid-19 outbreak, Alipay introduced a campaign encouraging third-party developers to create mini-programs that would address users’ needs during the health crisis. Within a week of the campaign’s launch, 181 mini-programs were created and housed on the company’s app, including programs for contactless grocery deliveries, legal and medical advice, logistics and public services.

To encourage service providers embrace digital transformation, Alipay’s 3-year plan includes updates allowing service providers to tap into Alipay’s traffic; AI-driven incentive programs; personalised recommendations; support from Alipay and 50,000 independent software vendors to digitise operations, increase efficiency and reach more customers; and access to a broader user base through the mini-programs which can run on major platforms such as Tmall and AutoNavi within the Alibaba ecosystem.

“Since the very beginning, Alipay’s success has always depended on the success of our partners,” said Hu. “That is why we believe the only way to best serve consumers is to open up our platform further, so service providers can better tap into consumer demands.”

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