We are delighted to announce our latest partnership, with global fin-tech company FusionPay.
From their London based offices, FusionPay recently launched across Europe, offering merchants a unique mobile payment solution that enables acceptance of Chinas most popular payment methods; Ali Pay and WeChat Pay.
More than 250,000 Chinese visitors spend upwards of £500million in the UK each year. This valuable customer segment has very different payment preferences to UK consumers, in China mobile payments are fast becoming a favourite with transaction volumes reaching 98.7 trillion (RMB) in 2017.
As Chinas two most commonly used payment methods, both WeChat and Ali Pay boast impressive active user volumes in excess of 400 million. You may not recognise the names yet, but they are predicted to be the next Apple Pay in the European payments space.
Benefits of FusionPay
Visitors from China are encouraged to use WeChat through regular offers such as cashback, vouchers and discounts, because of this they will actively search for and shop with merchants that offer FusionPay as a payment option. In addition to these incentives, the solution also allows visitors to extend the overseas expenditure limitations that are applied by the Chinese government. This is particularly useful for merchants selling luxury goods with high price tags as their customers spend level is no longer restricted.
There are a couple of ways to accept payments using FusionPay; via a QR code or through a traditional card machine, both are very easy to set up and use. Pricing is simple and cost-effective and there are no fixed term contracts.
Richard Bradley, CEO of acceptcards® commented on the relationship:
“This is another great addition to our panel of payment service providers. We have always tried to offer our customers more than just a payment solution, we see ourselves as a long-term payments partner, providing ongoing expertise and advice whenever necessary. It is our duty to be ahead of the curve with emerging payment methods and this new partnership allows us to fulfil that obligation. I look forward to working with FusionPay and helping UK business owners grow and succeed.”
Xiao Li, CEO of Fusionpay also commented on the partnership:
“We aim to build a bridge between UK merchants and Chinese consumers. By teaming up with acceptcards® we look forward to helping more businesses access the huge Chinese market.”
To find out if you could benefit from accepting FusionPay or simply check that you are still using the most suitable payment solution for your needs, contact us on 0345 269 6650.