RiverPay to enable Alipay & WeChat Pay transactions in North America
Category: #retail  By Pankaj Singh  Date: 2019-04-05
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RiverPay to enable Alipay & WeChat Pay transactions in North America
  • Chinese consumers spent $18 billion on 3.2 million excursions to the U.S.
     
  • 8.2 percent of the total overseas travel to the U.S. is accounted by Chinese travelers.

Canada-based payment solution company RiverPay Inc. has announced that it has started facilitating payments through WeChat Pay and Alipay. The facility has been made available at Brooks Brothers brand stores in key North America travel destinations including the brand’s flagship store on Madison Avenue in New York.

According to AP News, RiverPay’s partnership with oldest clothier in America will accelerate presence of RiverPay into North American luxury fashion sector. The efficient and secure in-store payments devices of RiverPay can support QR codes scanning system of Alipay and WeChat. This function of RiverPay resulted in fast integration of its devices into Brooks Brothers’ current cashier system at more than a dozen high-traffic stores. This will boost the ability of Brooks Brothers to capture fast growing and lucrative Chinese outbound tourism market.

The pilot program was keenly designed to impact highest traffic stores and premium outlets of Brooks Brothers before fully rolling it out. The clothier sees highest traffic among Chinese consumers, including San Francisco, New York city, British Columbia, Los Angeles, Seattle, Las Vegas, Boston and, Hawaii and Vancouver.

According to reliable sources, in 2017, Chinese consumers have spent $18 billion on 3.2 million excursions to the U.S. Whilst 8.2 percent of the total overseas travel to the U.S. is accounted by Chinese travelers. The selected cities for Brooks Brothers and RiverPay’s initial roll out are the top destinations visited by Chinese Travelers, cited reliable sources.

According to the Nielsen Survey, in 2018, cash was overhauled for the first time as more than 69 percent of the Chinese travelers made payment through their mobile phones while abroad. Approximately 32 percent of the total transactions were mobile transactions on the most recent trips of Chinese Travelers. It was also noted that retailers supporting familiar payment tools to Chinese consumers for transactions can increase sales and foot traffic by 60 percent.  



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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