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March 28, 2019

Preparing your business to welcome Chinese shoppers: SafeCharge sets best practices for merchants in new white paper

SafeCharge (AIM: SCH), the partner of choice for businesses who demand more from payments technology, today announced the release of a new white paper that explores the commercial potential of Chinese shoppers travelling in Europe for local merchants. Titled “Preparing your business to welcome Chinese shoppers”, the white paper shares insights, best practices and trends for those businesses eager to get started with Chinese payment methods such as Alipay and WeChat Pay in order to increase conversion rates and drive customer satisfaction.

Chinese tourists have become the overseas shoppers with the highest spending power, relying on QR codes to pay for goods and services on a daily basis. With more than 130 million Chinese citizens travelling around the globe in 2017 alone, this trend is presenting a sizeable commercial opportunity for those businesses wanting to accept the Chinese payment methods online and across their point of sale.

Drawing on the most recent surveys and statistics available, the whitepaper provides solid guidance for merchants to understand the anatomy of the Chinese shopper, the Chinese payments landscape, how local shopping habits are challenging long-established payment models, and most importantly how to easily integrate these innovative payment methods.

“Today, China is a huge laboratory for any kind of experiment in terms of buying and paying. China gives us a glimpse into the future of what will happen next in the rest of the world,” states David Avgi, CEO at SafeCharge. “Payments via mobile phone will soon be a standard all around the globe, so the sooner merchants get familiar with this kind of technology, the better their competitiveness and attractiveness towards a growing mass of shoppers, regardless of their nationality”.

“SafeCharge has been one of the first payment service partners to recognize the importance of Chinese digital payment methods,” adds Yuval Ziv, CCO at SafeCharge. “As businesses realize the huge commercial opportunity brought by these increasingly popular mobile payment methods, understanding how to integrate them will be crucial from a competitive standpoint. This guide will provide merchants with fresh insights and practical advice on how to be more attractive to Chinese shoppers and unlock new revenue streams”.

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SafeCharge Limited is an Electronic Money Institution authorised and regulated by the Central Bank of Cyprus and is a principal member of MasterCard, Visa and Unionpay International (CUP). SafeCharge Financial Services Limited is authorised and regulated by the Financial Conduct Authority as a Payment Institution. Both SafeCharge companies are wholly owned by SafeCharge International Group Limited.