In an increasingly global marketplace, New Zealand businesses have an incredible opportunity to tap into the growing Chinese consumer market. With over a billion users each, Alipay and WeChat Pay are the dominant mobile payment platforms in China. These apps are more than just a payment method—they’re an essential part of daily life for Chinese consumers, offering convenience, trust, and familiarity. Here’s why your business should consider accepting these payment methods and how doing so can help you grow.
Both WeChat Pay and Alipay are mobile apps widely used in China for payments and much more.
These apps go beyond payments to serve as comprehensive financial and communication tools, making them indispensable to Chinese consumers.
Chinese customers trust mobile payments because of their security and convenience. These platforms have been part of their daily lives for over a decade. Unlike in New Zealand, where Visa and Mastercard dominate, most Chinese consumers have both Alipay and WeChat Pay and switch between them depending on their needs.
Behind each app is a linked bank card, but the apps provide additional layers of trust and functionality, making them the go-to payment methods for millions of people.
There are five key benefits to accepting these payment methods:
Accepting Alipay and WeChat Pay doesn’t just simplify payments—it also brings customers to your door.
Displaying WeChat Pay or Alipay signage outside your business immediately signals to Chinese customers that they’re welcome and catered to. For example, if two souvenir shops in Queenstown sit side by side, the one with signage for these payment methods is far more likely to attract Chinese shoppers.
Additionally, both platforms allow merchants to list offers directly on the apps. This means Chinese users browsing the apps daily can see your promotions, increasing the likelihood of visiting your store. Even better, these platforms often fund discounts and campaigns themselves, requiring no marketing investment from your business.
Getting started is simple. EFTPOS New Zealand manages the process with Alipay and WeChat Pay, requiring only a quick online application. The setup takes about three business days, and there’s no need for additional training—staff handle these payments just like any other transaction.
Cost-wise, there’s no setup fee or ongoing charge. Businesses only pay a 2% merchant service fee per transaction, which can even be optionally passed on to customers using surcharging.
Alipay Plus is an exciting development that extends the Alipay ecosystem to 30+ additional digital wallets across Southeast Asia, including countries like Malaysia, Singapore, and Japan. With Alipay Plus, your EFTPOS New Zealand terminal can now accept payments from millions of additional users without requiring any extra setup.
Alipay and WeChat Pay are ideal for industries serving Chinese tourists, students, and migrants, including:
Security is a key advantage of these platforms. Both apps use dynamic QR codes that refresh every 60 seconds, reducing fraud risk. Refunds can only be initiated by merchants, eliminating the risk of customer disputes or chargebacks common with credit cards.
With no setup cost, no ongoing fees, and the ability to pass the transaction fee to customers, accepting Alipay and WeChat Pay is a no-brainer. It’s an easy way to unlock new sales opportunities and connect with a global audience.
Enabling Alipay and WeChat Pay is simple with EFTPOS New Zealand. Visit eftpos.co.nz/chinese-payments to learn more.