The global market is opening up more and more for merchants in Europe, bringing with it enormous opportunities, provided that merchants are keeping up with current developments. It’s no longer the case that it’s the small individual retailers against the powerful e-commerce giants. Increasing digitisation in retail is blurring these boundaries. The race for consumers is not automatically won by the biggest competitor. More important is to offer customers a seamless shopping experience across all channels. China has been developing into the biggest tourism market for Europe in recent years. Accordingly, it is highly beneficial for merchants to integrate popular Chinese payment solutions to acquire this lucrative target group as their customers.
When Chinese tourists feel just like at home, sales are boosted
Europe is the most attractive travel destination for Chinese tourists worldwide. Over two million Chinese tourists visited Europe in 2014, and this figure has risen consistently over the last four years. Shopping is at the very top of the to-do list for Chinese tourists. Each tourist spends an average of $3,000 on shopping expenses, considerably more than on travel or accommodation. In light of these figures, it makes sense to give Chinese visitors the opportunity to pay conveniently using the payment methods they are accustomed to at home. This makes shopping abroad more enjoyable, which in turn encourages more spontaneous purchases. Individual retailers and online merchants who offer the preferred payment methods therefore enjoy a clear competitive edge.
One of the most popular payment methods in China is Alipay. In addition to payment by smartphone, numerous additional services are also offered. For example, using the app, cinema tickets can be booked, food can be ordered or money can be transferred. Alipay is regarded as a ‘lifestyle super app’ in China, which is also evident from the figures. Over 600,000 merchants worldwide, plus 600,000 restaurants and 40,000 supermarkets and grocers have been using Alipay since 2014. This trend also continues to rise.
The experts are in agreement: Alipay will soon also become a popular payment method in Europe. Wirecard, one of the world’s leading payment service providers, recognised this trend at an early stage and has been giving its customers the opportunity to integrate Alipay into their payment systems at their points of sale without any major technical effort for a number of years.
Online merchants can also integrate Alipay into the shops quickly and conveniently
China is not only the biggest tourism market for Europe, but also the world’s largest growth market for online retail. Consequently, it is also recommended that online merchants offer Alipay as an additional payment method to open the door to over one billion Chinese consumers. This is not just the case for businesses based in major European cities with large numbers of Chinese visitors. Pure online retailers selling products in very popular segments such as cosmetics, clothing or dietary supplements also stand to benefit from Chinese consumers.
Wirecard offers Alipay as a payment solution both for points of sale and for online shops. This allows you to optimally combine your online and offline business. You do not need to open an account in China as a merchant. Using the Wirecard PrestaShop Module, you can get a payment system for your online shop quickly and conveniently that can be seamlessly integrated with all standard payment methods, including Alipay Cross-Border. Get your shop ready for global retail and boost your sales opportunities.
You can find more information about the Wirecard PrestaShop Module here. You can also try out the module free of charge.
Wirecard is a leading global full-service payment provider.