Market Overview

San Francisco's Leading Tourist Destination Partners with Alipay to Deliver a Seamless Payment Experience for Chinese Travelers

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More than 40 Merchants on San Francisco's PIER 39 Now Accept Alipay
via CITCON

Alipay, China's leading digital payment platform operated by Ant
Financial Services Group, and PIER 39, one of San Francisco's most
popular tourist destinations for shopping, dining and entertainment,
today announced a partnership to create a seamless payment experience
for Chinese travelers. Through the partnership, more than 40 merchants
and vendors located on PIER 39, including Blue & Gold Fleet, Bubba Gump
Shrimp, Fog Harbor Fish House and the Aquarium of the Bay, will now
accept payment via Alipay's mobile wallet through point-of-sale machines
activated and implemented by CITCON,
a leading cross-border mobile payment and marketing solutions provider
that helps connect merchants with Chinese mobile wallet users.

"Chinese consumers visiting San Francisco love to visit PIER 39," said
Taylor Safford, President and CEO of PIER 39. "Through our partnership
with Alipay, we can now provide these travelers with a familiar,
seamless payment experience, whether they are exploring the aquarium,
dining at one of our beautiful waterfront restaurants, or shopping on
The PIER."

"Chinese consumers seek out authentic and exciting local experiences
while traveling, and San Francisco's PIER 39 is exactly that kind of
iconic destination," said Souheil Badran, President, Alipay Americas.
"We are thrilled to partner with PIER 39. By enabling them to use Alipay
at the register, they are diminishing payment and language barriers,
providing these Chinese travelers with the best shopping and touring
experience possible."

"We applaud PIER 39's initiative to make the destination ‘Alipay
friendly' for visitors from China," said Joe D'Alessandro, president and
CEO of the San Francisco Travel Association, the city's destination
marketing organization. "China is San Francisco's top overseas market
with the highest spending of over $1.4 billion in 2017. By 2020, one in
every four visitor dollars spent in San Francisco will come from a
Chinese visitor. Alipay is the largest mobile payment platforms in China
and a key factor in making it easy for Chinese visitors to spend in San
Francisco."

Through Alipay's geolocation-based "Discover" function and push
notifications within the app, Chinese travelers can locate merchants at
PIER 39, receive promotional information and make purchasing decisions.
Beyond an improved payment experience, Alipay offers a sophisticated
marketing channel. Through Alipay, PIER 39's merchants will be able to
market to Chinese tourists before, during and after their visits,
boosting exposure of their businesses among China's rapidly expanding
overseas visitors. Alipay is currently offering a promotion through the
end of July to consumers shopping at PIER 39's merchants.

"Mobile payments are now an integral part of Chinese consumer culture.
Providing a welcoming environment and comfortable checkout experience to
Chinese consumers is the key to success in the tourism industry," said
Chuck Huang, Founder and CEO, CITCON. "We are committed to connecting
businesses with Chinese consumers, and excited to partner with PIER 39
and Alipay to welcome and better serve Chinese travelers."

About Alipay

Operated by Ant Financial Services Group, Alipay is the world's leading
mobile and online payment platform. Launched in 2004, Alipay currently
works with over 200 domestic financial institution partners. Over the
years, Alipay has evolved from a digital wallet to a lifestyle enabler.
Users can hail a taxi, book a hotel, buy movie tickets, pay utility
bills, make appointments with doctors, or purchase wealth management
products directly from within the app. In addition to online payments,
Alipay is expanding to in-store offline payments both inside and outside
of China. Over 40 million brick-and-mortar merchants now accept Alipay
across China. Alipay's in-store payment service covers over 40 countries
and regions across the world, and tax reimbursement via Alipay is
supported in 29 countries and regions. Alipay works with over 250
overseas financial institutions and payment solution providers to enable
cross-border payments for Chinese travelling overseas and overseas
customers who purchase products from Chinese e-commerce sites. Alipay
currently supports 27 currencies.

About PIER 39

PIER 39 is a 45-acre waterfront complex that is a gathering place for 15
million San Francisco locals and visitors each year. The PIER is a
two-level open-air marketplace featuring over 110 restaurants, shops and
attractions, all surrounded by iconic views of the bay and San Francisco
landmarks. PIER 39 also includes a 5-acre waterfront park and 300-berth
marina, home to the world-famous California sea lions. PIER 39 is a
tenant of the Port of San Francisco.

About CITCON

CITCON is a cross-border mobile payment and marketing solution leader,
enabling merchants to accept QR-based mobile wallets in-store and online
on a global scale. Among the payment options supported by CITCON, Alipay
and WeChat Pay are two of the most popular wallets with over one billion
active consumers. On top of payments, CITCON also allows merchants to
run marketing and loyalty campaigns through our partner network. Trusted
by thousands of merchants in North America and Europe, including DFS
Group, Caesars Entertainment Group, Kering Group among others, CITCON
offers solutions for businesses to drive omnichannel commerce growth in
a variety of industries ranging from Retail, e-Commerce, Hotel, Food &
Beverage, Transportation, Entertainment to Education. CITCON was Founded
in 2015 by Chuck Huang, a serial entrepreneur and payment veteran with
over a decade's experience in both US and China, and received $10M
venture funding from leading VCs (Zhen Fund, Cybernaut) in Silicon
Valley and China. For more information, please visit http://www.citcon.com/

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