Critical Success Factors – Verifone EFTPOS Terminal

Did you know that 88% of all payments in China are completed via e-wallets? Or that 1.078 billion people are mobile users – 98% of the country’s user base? Platforms such as WeChat and Alipay are essentially the life-blood of Chinese society and is method as to how the Chinese people conduct everyday transactions such as their online shopping, ordering of food, peer to peer transactions, banking, services, reviews, messaging etc. Therefore, it is not surprising that these platforms are the preferred and most trusted way to pay in China, rendering traditional currency and credit cards, obsolete. 

Every year New Zealand sees upwards of 450,000 Chinese tourists – that’s an additional 10% of New Zealand’s population visiting our shores every year from China alone! Given WeChat and Alipay are second nature to our Chinese tourists, implementing them will make your business far more attractive and allow you to easily tap into this broad customer base – essentially bringing you 10% more business. WeChat’s Social Platform and Alipay’s Discover Platform will assist in helping these tourists find your business through geolocation markers based on where they are at that time. More and more big names throughout New Zealand such as adventure providers, accommodation, fashion, health and retail vendors are signing up every day and using WeChat and Alipay and are seeing fantastic results and growth. Every second Alipay completes 250,000 transactions – that’s a phenomenal 2.7 billion per DAY! 

Whether your business is looking at implementing alternative payments such as WeChat and Alipay or is already using these systems, our team here at PayPlus have put together the following guide of the Critical Success Factors to ensure maximising Chinese spend.