WorldPay UK has been named Payments Innovator of the Year for helping retailers’ improve services for international consumers.
The award, received at last Thursday’s FS Tech Awards, recognised WorldPay’s Global Shopper campaign which has seen over 480 retailers offer more payment options for international visitors.
The UK is fast emerging as a shopping hub for international visitors, giving retailers huge potential from countries like China, Russia, United Arab Emirates (UAE), Malaysia and the United States.
In 2013 WorldPay processed payments worth over £18.9m by Chinese shoppers visiting the UK. Russian cardholder payments nearly doubled in 2013. UAE customers were the biggest spenders with an average sale size of £167 – double that of Americans and over eight times that of Russian cardholders.
WorldPay has seen a marked increase in take up of their payment types, as businesses adapt to attract more international visitors.
Dave Hobday, managing director of WorldPay UK, said: “With record numbers of overseas visitors hitting the UK high street, it’s vital retailers get a piece of the action and do everything they can to attract new shoppers from China, Russia and the Middle East.
“Last year WorldPay helped over 90 retailers offer their customers the chance to pay in their own currency or with their favourite card, like China UnionPay. Some retailers use tax free shopping to encourage more global shoppers but many miss a trick by not using other payment types too.”
WorldPay’s payment options for global shoppers include multi-currency processing; tax-free shopping; dedicated China UnionPay terminals; and myCurrency for dynamic currency conversion – which lets shoppers pay in their local currency, with a best exchange rate guarantee.