Borders? What borders? It will now be easier than ever for Chinese tourists in Australia to purchase at Cue, Dion Lee and Veronika Maine, with a national rollout of WeChat Pay and Alipay.
Cue Clothing Co has announced the introduction of rival Chinese mobile payment platforms Alipay and WeChat Pay to Cue, Veronica Maine and Dion Lee stores nationally. The rollout of these payment systems through RoyalPay means that Chinese customers will be able to pay with their local currency, Yuan, when shopping at the stores.
WeChat Pay is an integrated function within WeChat, one of the largest social media and messaging platforms in the world (with over 900 million daily active users). Alipay is the third largest payment platform in the world and has over 500 million users.
With Chinese tourists the biggest market to Australia and many Chinese students choosing to study here, it makes sense that local retailers are making it as simple as possible for them to purchase. Australia was one of the first offshore markets WeChat Pay targeted. In 2016, Chinese tourists spent A$9.2 billion in Australia, and WeChat Pay expects this figure to grow to A$13 billion by 2020.
While thousands of shops and restaurants in Australia use the WeChat Pay system, these are generally duty free shops, pharmacies and Chinese restaurants. Cue, Dion Lee and Veronika Maine are the first fashion brands to engage with the Chinese consumer in this way, opening up a whole new customer base through its seamless integration.
“We have seen continued growth from Chinese customers shopping with us, particularly over the Chinese New Year period,” said Shane Lenton, Chief Information Officer at Cue Clothing Co. “During this time, Australia was the biggest market for cross-border WeChat payments outside of Asia. It made sense for us to introduce these new and innovative payment methods nationally, across our large network of standalone stores.”
Australia was recently listed at number three on the list of importer countries selling cross border to China on Tmall. It makes sense then, that Cue Clothing Co. would capitalise on this popularity by selling cross border within our borders!