Australia’s business-only bank Tyro, announced it has gone live with its first merchant implementing Alipay, in an Australian banking first. Tax and duty-free retailer Heinemann Australia has introduced Alipay in its new stores at Gold Coast International Airport.

Tyro signed a deal with Alipay in August 2018.

The integration with Alipay, the world’s largest mobile and online payment platform, provides Australian businesses improved access to the lucrative and rapidly expanding Chinese visitor market. In the year ending February 2018, almost 1.4 million Chinese tourists visited Australia, injecting AU$10.4 billion into the economy (in the year ending December 2017). This is predicted to rise to AU$13 billion by 2020.

Tyro CEO Robbie Cooke said the Alipay integration continues the company’s strategy of enabling its merchants to accept all payment types and letting customers choose the way they want to pay.

“Bringing innovative payment and banking solutions to Australian businesses is what Tyro is all about and our partnership with Alipay allows us to offer Tyro merchants a market-leading initiative with a unique point of difference.

“We are thrilled to have Heinemann Australia on board as our first merchant taking advantage of Tyro’s Alipay integration and proud to be the first bank in the country to bring this exciting initiative to Australian businesses.

“This is all the more impressive given it was only at the end of August that we signed our deal with Alipay,” said Cooke.

Tyro will offer Alipay to its other eligible 20,000+ businesses from second quarter 2019.

Previous post

Why is Psychological Safety Being Ignored?

Next post

Five ways to make the most of your digital asset management investment

Join the digital transformation discussion and sign up for the Which-50 Irregular Insights newsletter.