Why Accept Chinese Mobile Payments
Chinese tourists are ranked second in the number of tourist that visit New Zealand and this is currently growing at an average of 12% year on year. Currently each of these Chinses tourist spend on average around $4,100 while on their stay in New Zealand. With the New Zealand government wanting to grow the Chinese tourist market these tourist arrival numbers and the per tourist spend will keep trending up.
The aim of any business in accepting Chinese Mobile Payments should be to increase revenue from Chinese consumers and experience shows that this is normally the case for some or all the following reasons:
• Familiarity with the payment system, making it easier for Chinese customers to transact instore.
• The platforms offer a very competitive exchange rate for international transactions, making use of AliPay and WeChat Pay (and others) very attractive relative to paying in cash or credit cards.
• Merchants offering these payment platforms, benefit from the association with highly trusted and well-known brands in China.
• Each platform offers marketing and promotional support, to increase customer awareness.
• For online transactions most Chinese do not have credit cards so cannot transact with international retailers not offering Chinese Payment Options.