By: OTT Pay
As retailers think about where to make capital investments in their business this year, these stats should be considered:
- 92% of Chinese nationals with digital payment capabilities use Alipay. If a merchant serves Chinese customers, accepting Alipay will most likely make it easier for them to shop.
- 50% of customers consider ease of checkout when deciding where to shop. If website stats include customers from China, offering Alipay will make it easier.
- QR code payments are expected to surpass US$33B by 2030. More people are accustomed to using QR codes and will be looking for payment methods that utilize them.
- By 2027, more than half of all transactions will originate from a digital wallet. Merchants will want a range of options to serve every type of digital wallet, and Alipay is one of the more widely used digital wallet apps.
Why Should Retailers Be Set Up to Accept Alipay?
When retailers are set up to accept Alipay, over a billion potential customers (and likely a few current customers) will be able to use their preferred payment method when shopping. This means not dealing with wire transfers, five-day holds or unfavourable exchange rates. An investment in Alipay enhances the shopping experience for merchants and their customers. For some people, this could be the difference between choosing one store over another.
View this previous Community IQ article to learn more about Alipay: What is Alipay?
About OTT Pay
OTT Pay is a leading end-to-end payment gateway that is redefining the payment industry. OTT Pay’s exclusive World of Payments™ solution integrates acceptance of popular international e-wallets streamlined with major debit and credit card brands. OTT Pay connects North American businesses with the tools to unlock growing ethnic markets by making it easier for their customers to pay. As one of the leading omnichannel payment facilitators, OTT Pay’s integrated suite of solutions encompasses POS Terminals, E-commerce, and Loyalty SaaS tools to make everyday business easier.
