Chinese New Year is just behind us, with celebrations that took place across the UK at the end of this week. The holiday means big business for the UK, with London’s Chinese New Year events alone attracting around 700,000 residents and visitors.
While the Chinese come to enjoy the festivities, they also enjoy discovering new brands and shopping experiences. In fact, Chinese tourists spend far more in the UK than other overseas visitors. In 2015, they spent an average of £2,170 in retail stores per person, according to Visit Britain.
Earlier this year, world leading commerce solution provider Verifone announced that Chinese visitors to the UK can now use their Alipay app, which is operated by Ant Financial Services Group, on Verifone devices at participating retailers in the UK. Alipay was launched in 2004 and it has the largest market share in China with more than 450 million users and control of just under half of China’s online payment market in October 2016.
Beaverbrooks in London’s Westfield Stratford City shopping centre is one of the first retailers in the UK to offer the Alipay experience. Expect many more in the near future – interested retailers can sign up to use the Alipay system using a dedicated Verifone e355 device, providing the convenience of shopping in China to the UK high street.
With the Verifone e355 mPOS solution, retailers will be able to accept Alipay anywhere in the store and implement marketing campaigns targeting Chinese consumers who use the Alipay app. Together, Verifone and Alipay will help retailers increase foot-traffic and enhance the shopping experience for millions of Chinese tourists.
Verifone is built on a 30-year history of uncompromised security with approximately 29 million devices and terminals deployed worldwide. Its people are known as trusted experts that work with clients and partners, helping to solve their most complex payments challenges. It has clients and partners in more than 150 countries, including the world’s best-known retail brands, financial institutions and payment providers.