Business Wire

Alipay+ Partners With Khan Bank to Enable Digital Payment of 12 International E-wallets in Mongolia to Drive Tourism and Merchant Growth

Share

Users of 12 popular overseas e-wallets from 8 countries and regions can now enjoy a seamless digital mobile payment experience in Mongolia thanks to the partnership between Khan Bank, the leading Mongolian full service bank, and Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240605811315/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Ms. Erdenedelger Bavlai, First Deputy CEO of Khan Bank (left) and Mr. Frank Piao, Country Manager, Alipay+ Mongolia officiated the partnership ceremony at Khan Bank HQ, Mongolia. (Photo: Business Wire)

Powered by Alipay+, users of these popular Asian and European e-wallets and payment apps will enjoy a smooth and secure payment experience in Mongolia whenever they encounter the Alipay+ logo at participating merchants ranging from established hotel chains and restaurants to department store and cashmere outlets located throughout the country. Through the one-stop integration feature provided by Alipay+, these merchants are able to accept payments from these mobile payment apps on the same QR code interfaces displayed at physical stores, or by scanning the QR code in user’s app.

In addition, Alipay+ marketing solutions will also enable the local merchants the ability to create promotions, distribute digital coupons and discount offers directly reaching users of those e-wallet super apps in their respective markets – all at the same time to achieve better marketing efficiency and scalability.

Popular e-wallets and bank apps newly brought into Mongolia by Alipay+ 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 and Toss Pay (South Korea), and TrueMoney (Thailand).

As a celebration of the new partnership between Alipay+ and Khan Bank, a series of promotion activities will be launched from now on through October, 2024. Users of eight e-wallet super apps namely AlipayHK, MyPB by Public Bank Berhad, GCash, OCBC Digital, Kakao Pay, Naver Pay, Toss Pay, and TrueMoney will enjoy 10% instant discount when making their purchases on Khan Bank’s POS terminals from now through October, 2024. More mobile payment service apps are expected to join in the months to come.

Ms. Erdenedelger Bavlai, First Deputy CEO of Khan Bank, noted, “Khan Bank was the first financial institution to sign an agreement with the Ant group back in 2021, enabling international payment process through Alipay. This time we are delighted to expand our partnership with the group and accept digital payment of users from eight countries and regions powered by Alipay+ on Khan Bank terminals for the first time in Mongolian market. This partnership is significant for not only Khan Bank but also for Mongolia as it contributes to the development of tourism besides securing seamless payment for tourists and travelers coming to Mongolia.”

Mr. Danny Chung, General Manager of Alipay+ Korea, Europe, Middle East and Mongolia, said, “Mongolia is one of the favorites destinations for international travelers. The partnership with Khan Bank marks a significant milestone for Alipay+ as Mongolia becomes a new destination to accept cross-border mobile payments, powered by Alipay+. This partnership is a testament to our commitment to bringing a convenient and secure digital payment experience for international travelers.” He added, “Together with Khan Bank we are connecting local businesses with international visitors, offering better travel experience to tourists and greater business opportunities and visibility for local merchants.”

Since post-COVID, Mongolia has seen an increase of inbound travelers in the past three years. In addition, the Government of Mongolia has announced 2024 and 2025 as years to visit Mongolia with an ambition to receive 1 million tourists from 2023 through 2025.

Introduced by Ant International in 2020, Alipay+ now connects over 88 million merchants in more than 50 countries and regions to over 25 e-wallets and bank apps, allowing consumers to travel and pay hassle-free globally, and merchants to expand cross-border consumer engagement and digital marketing.

In the addition to Mongolia as the latest Alipay+ destination, Alipay+ partner wallets have already been accepted at various major global 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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Inquiries
Khan Bank
Oyuntsetseg Tsedendamba
oyuntsetseg.ts@khanbank.com

Ant International
Eric Tey
eric.tey@antgroup.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

DentalMonitoring Sets New Standard in Orthodontic Remote Monitoring With EU-MDR Certification14.6.2024 19:33:00 CEST | Press release

DentalMonitoring is proud to announce that the DentalMonitoring Software is now certified under the European Union Medical Device Regulation 2017/745 (EU MDR) and fulfills the requirements for CE marking as a class IIa medical device. European Medical Device Regulation 2017/745 (EU MDR) replaces the previous Medical Device Directive 93/42/EEC (MDD). EU MDR sets more rigorous requirements for clinical evaluation, risk management, post-market surveillance, and data collection on medical devices.(1) This landmark achievement underscores DentalMonitoring's commitment to advancing dental care through cutting-edge technology and rigorous regulatory compliance. Achieving this certification four years ahead of the deadline demonstrates DentalMonitoring's commitment to positioning itself as an innovative, serious, efficient, and safe player in the medical field. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240614842101/en/ DentalMo

Argonne and a Moroccan University Sign Agreement to Advance Green Energy Tech and Computing14.6.2024 15:24:00 CEST | Press release

The U.S. Department of Energy’s (DOE) Argonne National Laboratory and University Mohammed VI Polytechnic (UM6P) have signed a memorandum of understanding (MOU) to collaborate on key areas of mutual interest related to green energy technology and the nexus of water and energy. In a ceremony held at UM6P’s campus in Benguerir, the MOU was signed by Argonne Laboratory Director Paul Kearns and UM6P President Hicham El Habti. “We are excited to see what discoveries and innovations will result from our ongoing partnership,” said Kearns. ​“By working together, we’ll open new scientific frontiers for both our countries’ futures.” “Today marks a significant milestone in our journey towards sustainable innovation. The signing of this Memorandum of Understanding with Argonne National Laboratory underscores our commitment to advancing research and development in renewable energy, energy grids, and water management. Together, we aim to leverage our collective expertise to create transformative solu

MultiBank Group Recognized as Top BaFin-Regulated Forex Broker14.6.2024 14:33:00 CEST | Press release

MultiBank Group is thrilled to announce its recognition as a top BaFin-regulated forex broker by FXEmpire, a leading financial markets authority. This prestigious accolade highlights MultiBank Group's unwavering commitment to excellence, security, and innovation in the forex trading industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240614306878/en/ Top BaFin regulated forex broker 2024 (Graphic: Business Wire) About BaFin: Regulating German Financial Markets BaFin, Germany's Federal Financial Supervisory Authority, oversees the country's banking, securities, and insurance sectors. It ensures fair and transparent operations in the forex and CFD markets by enforcing rigorous standards. Selection Methodology FXEmpire's methodology for selecting the best BaFin-regulated brokers includes: Regulation Verification: Ensuring each broker is BaFin-regulated, providing traders with high-level protection. Cost Efficiency: Brokers

Takeda Signs Option Agreement with Ascentage Pharma to Enter into Exclusive Global License for Olverembatinib, a Third-Generation BCR-ABL Tyrosine Kinase Inhibitor (TKI)14.6.2024 14:00:00 CEST | Press release

Takeda (TSE:4502/NYSE:TAK) today announced the signing of an option agreement with Ascentage Pharma to enter into an exclusive license agreement for olverembatinib, an oral, potentially best-in-class, third-generation BCR-ABL tyrosine kinase inhibitor (TKI), which is currently in development for chronic myeloid leukemia (CML) and other hematological cancers. If exercised, the option would allow Takeda to license global rights to develop and commercialize olverembatinib in all territories outside of mainland China, Hong Kong, Macau, Taiwan and Russia. Despite the impact TKIs have had in the treatment of patients with CML, there remains significant unmet need for patients whose disease is resistant or refractory to these therapies or who develop hard-to-treat mutations following these treatments. “Takeda has a long history of driving important treatment advances for patients, particularly those with hematological cancers facing treatment gaps,” said Teresa Bitetti, president of the Globa

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye