Mobile payments from QR codes are now an integral part of Chinese consumer culture

Mobile payments from QR codes are now an integral part of Chinese consumer culture

Alipay and WeChat are lifestyle super apps for Chinese

A payment function resides within these apps – Chinese simply link their bank account to make payments by scanning a QR code with their smartphone. Everything from restaurants, to clothes, to hotels, to borrowing a bike is paid for with the simple scan of a QR code.

Alipay and WeChat Pay together account for over 93% of China’s mobile payments and have enabled overseas payments for their over 1 billion respective active users.

China is fast going cashless

For anyone who has visited China since 2016, the prevalence of mobile payments is likely to have stunned them. Once a cash based society, the majority of consumers leapfrogged credit cards to go straight to the convenience of mobile payment apps. It’s widely quoted that only 15% of Chinese have a credit card. Chinese consumers now spend 90 times more on their smartphones than Americans.

More payment with QR than cash

Nearly 7 in 10 Chinese travellers have used mobile payments for their expenses abroad. In their most recent trip to Australia or NZ, 68% had used mobile payments.

In 2018, mobile payment transactions accounted for 32% of all transactions by Chinese travelling overseas, and overtook cash for the first time¹. This trend is even more prevalent amongst younger travellers – a key group in the growing numbers who are travelling as free and independent travellers (FITs), rather than large guided tour groups.

Learn more about China’s preference for QR payments by reading our blog post, Why mobile payments are an integral part of Chinese consumer culture.

Why Chinese prefer to use mobile payment when travelling

  • 64% 64%

Convenience, speed and familiarity

98% of Chinese Smartphone users have used mobile payments. They know exactly what to do and they can approve the transaction in their own language.

  • 48% 48%

Pride for Chinese brands

Alipay and WeChat are powerful brands. WeChat accounts for 34% of China’s data traffic (Facebook account for just 14% in North America). Alipay is part of the Alibaba group.

  • 43% 43%

Preferential exchange rates

Their money goes further than it would if they relied on cash or card. Currency conversion is locked in at the time of the transaction and rates are very favourable. (You don’t need to worry about exchange rates either).

  • 36% 36%

Discounts on Purchases

Alipay and WeChat both offer discounts and promotions that encourage purchases through the app. You can also add a coupon of your own. Learn how Alipay and WeChat can help market your business.

QR payments aren’t just for tourists

Nearly 30% of Australia’s international students are from China.

The 2016 Census found Australia is home to more than 1.2 million people of Chinese ancestry.

Make it easy for Chinese customers to spend with you

Expand your payment options without extra fees – with Simple Flat Rate it’s the same rate as Visa or Mastercard.
No currency conversion hassle. Your customers lock in favourable exchange rates that help their money go further when they accept the transaction. You enter the sale in AUD and get paid in AUD. Easy!
Unlock sales growth by making it easier for your customers to spend with you. Chinese customers won’t be restricted to the cash in their wallet. Plus, Alipay offers a ‘buy now pay later’ option giving easy access to credit.
✔ Be visible to Chinese tourists when they are planning their trip with a free translated listing in Alipay’s Discover Platform.
✔ Leverage Alipay and WeChat Pay’s special promotions, to grow your business

Learn more about Alipay and WeChat Pay

Accept Alipay & WeChat Pay 

Accept Alipay and WeChat Pay payments on the same terminal you use for EFTPOS and credit cards.
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How Alipay & WeChat Pay work

It’s seamless to accept Alipay & WeChat Pay work on a Smartpay terminal. No new hardware, no staff training required.
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Why Alipay & WeChat Pay

Mobile payment from QR codes are now an integral part of Chinese consumer culture. Adding QR acceptance will help capture sales from Chinese migrants, students & tourists.
>Learn more

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