mPay Expands Cross-Border Payment Coverage to More Than 40 Countries, creating a Convenient Global Travel Smart e-wallet for Macao residents

MACAU - EQS Newswire - 24 August 2023 - Macau Pass S.A. ("Macau Pass"), together with Alipay+, will expand the coverage of the cross-border payment business of mPay to more than 40 countries overseas in the third or fourth quarter this year.

These include the United Arab Emirates, the United Kingdom, Switzerland, the European Economic Area countries (such as France, Germany and Italy), Australia, New Zealand, Qatar, Singapore, Malaysia, South Korea, Japan, the Philippines, Thailand, and the United States of America. The relevant cross-border payment function is applicable to mPay's Macao resident users at 3A, 3B and JR levels, it is done by simply switching the Alipay+ overseas payment code on mPay when seeing Alipay+ logo at the merchants in these countries.

According to the 2022 Household Information Technology Survey by the Statistics and Census Bureau of the Macao SAR Government, among the online shopping consumption in the fourth quarter of 2022 in Macao, the median consumption of "tourism services" (MOP2,000) ranked top on the list, and comparing 2021 and 2022, the number of consumers has increased by 142%. With the optimization of the entry-exit management policy of the Macao SAR government, the increase in search volume of outbound flights and accommodation in overseas countries indicates that the outbound travel demand of Macao residents continues to recover in 2023, and cross-border consumption is expected to surge.

Mr. Sun Ho, Chairman and CEO of Macau Pass, said that the change in consumer culture and modern technology goes hand in hand in the new era, and demand for electronic payments, especially cross-border mobile payments, is also booming rapidly. As one of the leading mobile payment e-wallets in Macao, mPay and Alipay+ which has launched a suite of innovative digital cross-border solutions, strive to create a smart e-wallet that facilitates Macao residents to travel globally, this could also solve the issues they encounter with payment while travelling overseas, thus improve travelers' payment and shopping experience.

Mr. Sun said that when international payment services give consumers fine global travel consumption experience, it will also bring more cross-border businesses and tourism growth opportunities for global merchants. mPay will continue to expand electronic payment, lifestyle services and marketing technology services to develop more open and diversified intelligent payment business scenarios, which is dedicated to introducing the inclusive ecology and vitality of Macao and even Mainland China's digital economy to the whole world and let them have a deeper understanding of the vibrant developments.

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The issuer is solely responsible for the content of this announcement.

About Macau Pass S.A.

Macau Pass S.A. is a non-bank local financial institute with the scope of financial clearance, and is also a credit institution qualified to issue cards in Macao. In 2007, Macau Pass introduced the first contactless smart card in Macao, "Macau Pass Card", which is now the largest contactless smart card and electronic payment system in Macao. Macau Pass introduced mobile payment into Macao in 2015 and created mPay app in 2018, which has now become the most used payment app in Macao, and is now actively integrating more non-payment scenarios to serve local merchants, residents and tourists. For details on Macau Pass' information, please visit https://www.macaupass.com