On November 9th, the 2022 World Internet Conference Wuzhen Summit opened, creating a new situation in digital cooperation and cultivating new momentum for global development, which has become a hot topic of this conference. At the “Global Development Initiative Digital Cooperation Forum” held on the same day, Jing Xiandong, chairman and CEO of Ant Group, shared the practice of China’s digital payment going out and participating in global cooperation in the digital economy. He said that digital technology has added new momentum to global cooperation and development, which has been verified in the field of digital payment. To deepen digital cooperation and promote common development, technology companies should take greater responsibility.
(Photo: Jing Xiandong, Chairman and CEO of Ant Group, speaks at the “Global Development Initiative Digital Cooperation Forum” at the 2022 World Internet Conference)
Thanks to a good infrastructure and policy environment, as well as the tolerance of technological innovation, China’s digital payment has achieved the widest coverage in the past ten years. According to the central bank, the penetration rate of data mobile payment will reach 86% in 2021; the lowest cost, offline payment The rate does not exceed 6/1,000, and a large number of small and micro merchants enjoy free services; the highest security, the capital loss rate of mainstream payment institutions is generally less than 1/10,000,000.
“We found in practice that making good use of the experience in developing digital payments in China can better serve global consumers and small and micro enterprises, and is conducive to promoting global cooperation in the digital economy.” Jing Xiandong said in his sharing.
He introduced that since 2015, Ant Group, through technology sharing and working with local partners, has helped 9 countries and regions including India, Thailand, Bangladesh, the Philippines, and Malaysia to build local versions of “Alipay”, allowing local small and micro merchants to become “code merchants”. “Starting digital operations. In 2021, the South African local wallet VodaPay will be launched, and it also adopts the mobile payment solution provided by Ant, as well as the underlying technologies such as risk control security, privacy protection, and high concurrency. From Southeast Asia to Africa, innovative cooperation in digital payment continues to advance, and “scanning” to complete shopping has become the norm of life.
Jing Xiandong said that digital technology cooperation is a process of mutual promotion. In the process of practice, both Ant and its partners realized that using digital technology to help business connections can create greater value for consumers and small and micro enterprises, as well as for the economy. Recovery injects momentum. Since 2020, Ant Group has launched Alipay+ global cross-border payment and digital marketing solutions, dedicated to helping more e-wallets realize cross-border payments, thereby creating more possibilities for global digital business cooperation. Up to now, Alipay+ has covered more than 2.5 million merchants around the world, and merchants can seamlessly connect with more than 1 billion Asian consumers covered by 15 digital payment tools through Alipay+ “one-point access”.
Digital technology talents are the core resources for the sustainable development of the global digital economy. Jing Xiandong revealed that in October 2018, Alipay and the international financial company IFC jointly launched the “10 x 1000 Technology Inclusive Plan”, promising to train 1,000 technology leaders in emerging markets every year within 10 years. Up to now, the program has united more than 40 international institutions such as the World Economic Forum, the United Nations Economic Commission for Africa, and the United Nations Food Programme, and has trained more than 5,000 digital technology talents for more than 70 countries and regions.
Looking forward to the future, Jing Xiandong mentioned that next year’s “Digital Payment City” Hangzhou will welcome the Asian Games. He hopes to help athletes, coaches and spectators from all over the world to enjoy a convenient digital payment experience in China and Hangzhou. And contribute to the integration of the new dual-cycle development pattern.
The “Global Development Initiative Digital Cooperation Forum” is jointly sponsored by the Cyberspace Administration of China, the Ministry of Industry and Information Technology, and co-organized by the Internet Society of China. Government officials from many countries, heads of UN agencies and relevant international organizations, representatives of academia and business circles are invited to attend the forum.
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