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Cue offering Chinese payment options in-store

 

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Fashion brand Cue intends to capitalise on the large numbers of Chinese tourists visiting Australia by becoming the first retailer to offer Chinese mobile payment platforms Alipay and WeChat Pay in-store.

The retailer is rolling out cross-border payment solution RoyalPay in Cue, Veronika Maine and Dion Lee stores across the country. This system allows customers to purchase in Chinese RMB while merchants settle in AUD.

In a statement, Cue said the introduction of Alipay and WeChat Pay to its network of 126 stores in Australia and New Zealand means customers can “shop their way”.

With over 500 million users, the Alibaba Group’s Alipay is the third largest payment platform in the world, while WeChat is one of the largest social media and messaging platforms and has over 900 million daily active users.

RoyalPay senior business developer Harry Zhao told RetailBiz there are big opportunities for Australian retailers who tailor their services to Chinese consumers by offering these preferred payment methods.

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“A lot of tourists come to Australia and a lot of students study in Australia as well, and the Chinese market is one of the biggest in the world,” he said. “We want to create an ecosystem by connecting these customers with merchants.”

Getting set up with RoyalPay takes as little as one business day, with the easiest option being a plastic counter stand displaying a QR code. The customer scans the QR code using their mobile, inputs the amount, and pays. The merchant then receives a notification.

RoyalPay also helps retailers communicate with potential customers, said Zhao.

“I think the Chinese people are afraid of talking to the locals and afraid to ask about offers or deals…they probably have a language barrier,” he said.

“So we have the platform written in Chinese and you pay just using your fingertips, it’s quite easy. So that solves that problem.”

It is not just traditional retailers that are experimenting with offering Chinese mobile payment methods. Zhao said tourist attractions including the National Maritime Museum in Sydney had signed up to RoyalPay. “We have a lot of museums. We help them promote and market their company in the Chinese market…and help them grow sales.”

 

 

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