More than 10% of 117 million annual Chinese tourists visit Europe and North America. They spend more than $900 more on shopping than the global average.
Currently, the Alipay app has 80% of the m-commerce market share in China. It all adds up to one common-sense solution: bring Alipay to Verifone devices in North America and Europe.
As of now, the e355 is the only device in North America and Europe that has built-in software to accept Alipay; however, any device that has a barcode scanner (such as Verifone Carbon) has the capability of accepting the app. But it’s more than just about convenience and revenue. Accepting Alipay is like a global welcome sign, allowing Chinese consumers to pay with a method they’re familiar with and bridging the foreign currency gap. Furthermore, it allows merchants the ability to market to Chinese tourists while they’re still in China and while they’re abroad. Merchants can provide discounts or offers to entice tourists to shop at their stores.
“As a trusted brand in China, Alipay can leverage Verifone’s global network to provide value-added services to over 450 million consumers when they travel outside of China,” says Douglas Feagin, SVP of Ant Financial Services Group and Head of Alipay International.