Tyro selected Alipay

Tyro selected Alipay

Tyro selected Alipay for improving Australian businesses access to the Chinese visitor market

  • Tyro is the first Australian business-only challenger bank to offer an all-in-one Eftpos solution with Alipay
  • Alipay is a third-party mobile and online payment platform, established in Hangzhou, China in February 2004 by Alibaba Group
  • Alipay has over 870 million active users in China and overseas
  • Tyro is currently working with several merchants to determine appropriate pilot sites for launch by the end of 2018
  • In the year ending February 2018, almost 1.4 million Chinese tourists visited Australia, injecting AU$10.4 billion into the economy target to rise to AU$13 billion by 2020
  • 65% of Chinese tourists use mobile payment platforms during their overseas travels, six times more than non-Chinese tourists (11%)