Make it easier to sell to the growing Chinese market
Make it easier to sell NZ services and products to the growing Chinese market – Smartpay
Kiwi businesses who have adopted a new payment system allowing Chinese buyers to pay in their own currency are already seeing a return, says Smartpay ..
And Mark Unwin, General Manager Products and Marketing of New Zealand’s largest eft-pos supplier, is encouraging other merchants to make sure they don’t miss out on sales using China’s leading card scheme, UnionPay.
Last year Chinese UnionPay executives signed an agreement with the New Zealand Tourism Board, which included a commitment to promote New Zealand as a tourist destination to all its card holders.
Mark Unwin says the numbers speak for themselves in terms of the benefits of accepting this card online or in-store, with an estimated 3.1 billion UnionPay cards in circulation.
“We know the Chinese buyer is comfortable buying services and products online from other sites overseas, spending an impressive NZ $15.12 billion last year, and forecasts show this is only going to rise. Stats show that Chinese buyers are particularly comfortable buying health and food supplements and milk powders online, which should be of interest to the New Zealand market.”
He says it’s not only about making it easier for those making purchases from home, but also for the Chinese tourist visiting New Zealand.
“Chinese tourists spend about $700 million a year in New Zealand. Again this is expected to increase with Chinese visitor numbers expected to double to 400,000 over the next four years.”
Mark Unwin, says research shows that buyers like the certainty of buying in their own currency without additional conversion fees.
“Consumers don’t like hidden costs or surprises and they value the opportunity of making their purchases with a familiar payment system. We’ve talked to merchants who are early adopters of this service and they are telling us they are seeing an increased interest from the Chinese market. “
UnionPay cards are China’s number one payment card and are also issued in more than 30 other countries, including in New Zealand’s other growth tourist markets such as Japan, South Korea and South East Asia.