Alipay+ Accelerating Its Asian Expansion By Powering iQIYI's Infrastructure

Popular Asian e-wallets are assisting iQIYI, a leading international streaming platform, in accelerating its expansion through Alipay+, which is assisting digital and entertainment (D&E) platforms in reaching young middle-class customers looking for great online video content.

Alipay+, which was launched by Ant Group in 2020, is a suite of cross-border digital payment, marketing, and merchant digitalization solutions that connect global brands with mobile-savvy consumers worldwide. It is designed to enable businesses, particularly small and medium-sized enterprises, to process a wide range of mobile payment methods and reach more than 1 billion regional and global consumers.

Beginning in 2021, iQIYI will use Alipay+ marketing solutions, like as Alipay+ Rewards and cashier-based marketing services, to reach out to potential customers and increase transaction conversion rates in important regions. Alipay+ Rewards is a new digital marketing platform developed by Alipay+ and partner e-wallets that allows global brands engage better with consumers worldwide by giving incentives and unique services.

In 2022, more than 1 million consumers outside the Chinese mainland, primarily in Southeast Asia, used Alipay+ partner e-wallets to pay for subscriptions or content on iQIYI's international app, including TrueMoney (Thailand), GCash (The Philippines), DANA (Indonesia), Touch 'n Go eWallet (Malaysia), and Kakao Pay (South Korea).

In addition to these new payment options, Alipay+ has been delivering customised marketing solutions through the Alipay+ Rewards programme since 2023, allowing merchant partners to increase their market outreach efforts. In March 2023, the number of new users making subscription payments through GCash, DANA, and Touch 'n Go eWallet climbed by 100%, 90%, and 50%, respectively, compared to the end of 2022 on iQIYI's worldwide app.

AlipayHK, the largest active e-wallet in Hong Kong SAR, China, will become the newest Alipay+ partner wallet to facilitate payment on the iQIYI International App in April 2023.