Worldline launches China all-in-one solution and unlocks the full potential of WeChat Pay for international customers entering Chinese commerce

14 ianuarie 2021

Worldline, the European leader in the payments and transactional services industry, today launches its China All-In-One solution from Ingenico, „which unifies its suite of Chinese payment solutions, including AliPay, WeChat Pay, and UnionPay, into one package,” according to the press release. Ingenico has been part of Worldline since October of 2020.

„The China All-In-One solution allows customers to enter the rapidly expanding Chinese eCommerce market with greater ease, as well as unlocking its full potential. The new offer has a fixed rate and transaction fee of 1.9%, plus 0,20 Euro per transaction and is one of the most competitive offerings on the market for international businesses selling to Chinese consumers,” the company said.

The solution covers the vast majority of all locally preferred payments methods (92%) with Chinese consumers favoring mobile-based payment methods. It will give online businesses equal access to features that meet these needs, including AliPay and WeChat Pay.

Worldline is also announcing that „it is the first international payment service provider (PSP) to unlock the full potential of WeChat Pay by offering payments through official accounts and mini programs which represent almost all of WeChat’s flow”.

Mini programs are essentially apps within WeChat that allow businesses to access unique features such as user location, scanning offline QR codes on magazines and billboards, and the ability to conduct marketing directly to the full WeChat userbase. What’s more, through Ingenico, Worldline is taking the complexity out of creating mini programs by helping businesses with full technical development needs, in particular navigating the unique programming features and languages found in China.

As part of the package, Worldline will also provide its expertise in conversion optimization for AliPay, as well as allowing international businesses to offer the ability to pay using UnionPay, in the form of UnionPay International and China UnionPay. With UnionPay being the third most favored payment method in China, the package covers the most used payment methods in the country.

Having previously launched its Russian ePayments solution in 2018, the China All-In-One solution is part of Worldline’s strategic approach to help businesses target high growth markets, particularly Brazil, Russia, India and China. The company is removing the complexity involved when entering China.

Edouard Billion, Head of Growth and Partnerships, Digital Commerce, Merchant Services at Worldline explained: “The Chinese market is growing incredibly fast but has significant barriers to entry for international businesses. The unique domestic ecommerce ecosystem demands a specific solution tailored to local preferences. This tailored approach unlocks huge rewards as doing business in these high growth markets can be massive for online businesses.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?