LONDON, May 3, 2019 /PRNewswire/ -- In China's almost entirely cashless consumer economy, WeChat Pay, Alipay—the Big 2 of Chinese cashless payment methods—have enabled consumers to go straight from cash to smartphone payments. At the same time, Chinese visitors represent a huge market for British retailers, with their spending reaching £694 million in 2017. China's middle and upper classes now explore destinations further away than ever before, and this trend is set to grow. But adapting to the expectations of Chinese customers doesn't need to be a difficult process. Innovative cross-border digital payment technology provider FusionPay is working with British merchants to offer payments through WeChat Pay, Alipay.
"FusionPay enables Chinese customers to pay Chinese Yuan directly without exchanging, while payments can be settled in British Pounds on the merchant's account," said Xiao Li, Executive Director of FusionPay. "We aim to connect UK merchants with Chinese customers through efficient cross-border payment systems and multi-channel marketing solutions." With FusionPay, Chinese customers can pay through a QR Code, which is online real time generated within the Alipay or WeChat app on their smart phones. At the same time, merchants seamlessly accept the payment by scanning the customer's QR Code.
FusionPay bridges the Sterling-Yuan currency exchange gap between Chinese consumers and European businesses. The payment solution can support both online and offline payments. For physical stores, it is available both standalone and integrated seamlessly into their existing POS flow. For online merchants, system can be integrated into merchants' websites, mobile apps, or WeChat accounts and are tailored to meet e-commerce purchasing demands.
The market is taking notice as FusionPay has announced exiting new partnerships. Cath Kidston and Watches of Mayfair; the destination shopping centre Bicester Village; and restaurants including Café Wolseley and Bao London are now working with FusionPay to provide the payment methods that their Chinese customers prefer.
FusionPay, partnered with WeChat Pay and Alipay also helps UK merchants open the doors to Chinese consumers with their integrated marketing solutions. They offer precisely targeted marketing campaigns from WeChat, Alipay, Dianping, Weibo and travel agencies that provide special marketing solutions and offers directly to consumers based on consumer preferences and habits.
WeChat Pay and Alipay are blazing a trail for players across Europe, and the rest of the world. It is now simpler than ever to welcome Chinese shoppers in the store!
Contact: Philo Qi, +44(0)203-225-5505