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The new effort would allow Alipay users to use their Discover feature—a geolocation-based tool that allows users to find where, in this case, Alipay is accepted near them—or receive push notifications to find compatible terminals. Once the terminal is located, the tourist in question can then make the call on shopping there. Additionally, users can receive promotional information and make further decisions about purchases. Chase Merchant Services head of product and strategy Pablo Simone commented “We are always looking for ways to deliver more value to our merchants and bring them closer to their customers. A relationship with Alipay would create opportunities that enable Chinese tourists to transact in a way they are familiar with.” It also provides an excellent way for Chase to push its merchant services to retailers; after all, with around four million Chinese consumers set to hit a variety of North American retailers by the end of this year alone, who would want to run the risk of not being in on that action? Granted, such a move would be more effective in some places than in others—there’s a much greater chance that Chinese tourists will visit New York, Las Vegas or Los Angeles than, say, Wilmington, Topeka or Mackinaw City—so Chase could really focus its own marketing efforts accordingly. It’s a prospect that would be difficult for a business in a likely Chinese destination to pass up. Read Original Article |
