According to the Australian Financial Review, the Commonwealth Bank of Australia (CBA) announced that Alipay application will be installed in its Albert POS system. In other words, Chinese tourists and international students can make payments via Alipay in Australia. The Commonwealth Bank of Australia became the first of the four largest banks in Australia to open Alipay services to all of its POS merchants.
China becomes the largest source of tourists and international students in Australia.
According to data released by the Australian Bureau of Statistics (ABS), with over 1.2 million Chinese tourists visiting Australia every year, a figure that is growing at over 22 per cent annually, this partnership presents Australia retailers with an opportunity to drive targeted marketing campaigns directly to the Chinese students and tourists boosting their revenues significantly with Alipay and WeChat Pay. Chinese tourists spent US$10.4 billion in Australia in 2017, increased by 14% compared to 2016, and this is forecast to grow to US$20 billion by 2020.
With Chinese using AliPay and WeChat multiple times on a daily basis, it is fast becoming the preferred payment method. Offering AliPay and WeChat Pay not only simplifies the transaction for Chinese but also increases the daily sales volume for the Australia Company.
Alipay step up pushing the cooperation with Australia
In 2018, Alipay has reached a cooperation agreement with financial institutions in Australia such as NAB, Tyro and Vodafone in Australia, which greatly empower more overseas businesses and provide cross-border payment services for Chinese tourists, Chinese residents and international students. The area of cooperation is expanding， such as retail, tourism, e-commerce, education, George Lawson, regional manager of Alipay in Australia, said that Australian merchants are looking forward to banks supporting China's mobile payment methods to better attract fast-growing Chinese tourists.
The EFTPOS terminal of Telpo TPS900 supports both a one-touch NFC card reader and China's mobile payment applications, such as the Alipay, Wechat Pay, UnionPay and more. Feel free to contact us.
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