China’s largest third-party payment services Alipay is now legal for use in Macau but casinos will not offer it, says Union Gaming analyst.
Following the launch of its payment services in July, Alipay through the company’s collaboration with a locally authorized institution is now permitted to operate in the city, the Monetary Authority of Macau (AMCM) has confirmed on Friday.
“Their co-operation has been duly approved by [the] authority and doesn’t violate any regulations in Macau,” added AMCM
Alipay, operated by Alibaba Group Holding Ltd’s finance arm Ant Financial Services Group, is now available in 107 stores in Macau with more than 51 local brands introducing Alipay’s QR code payment service. Founded in 2004, the company has gained 550 million registered users and facilitates over 8.5 million online transactions daily, exceeding 2 billion yuan and surpassing PayPal as the world’s largest third-party online payment solution.