Coming Soon: Alipay & WeChat Acceptance
EFTPOS NZ customers will soon be able to accept payments made with the Alipay & WeChat Pay payments apps
In the coming months, we will begin rolling out Alipay and WeChat Pay acceptance to our eftpos terminals across New Zealand, bringing Kiwi businesses a key advantage in tapping into the Chinese domestic and tourist markets.
What are Alipay and Wechat Pay?
Alipay and WeChat Pay are mobile apps that allow customers to make transactions using their smartphones. Mobile wallets have fast become the preferred payment method in China. Together Alipay and WeChat Pay dominate the Chinese market with a combined 90% share.
The Alipay app alone currently has over 520 million active users globally, who make over 100 million daily transactions.
How does it work?
To make payment on an eftpos terminal, users scan a QR code displayed on the terminal screen using their smartphone and confirm the payment in the app which completes the transaction.
Benefits for your business
Accepting payments from Alipay and Wechat Pay is a win-win for your business. The apps provide opportunities to advertise and promote offers to users so you can market to Chinese tourists traveling to New Zealand before they even arrive. Once they’re here, Alipay even helps users locate businesses who accept Alipay so your new customers can find you.
Accepting Alipay and WeChat Pay will open up new avenues to increase brand awareness, drive store foot traffic, and create a great customer experience by allowing Chinese customers to pay using the method and the currency they’re familiar with.