The online payment methods Alipay and WeChat Wallet are working to expand their offerings to brick and mortar stores. Though it seems strange to have online payment options in stores, for consumers it could be a safer and easier method of payment. In fact, in China, Alibaba and WalMart have teamed together to start offering Alipay at the checkout line.
Right now, the 25 stores that are located in Shenzhen, in the South China Guangdong province will be the first batch of stores to start accepting the online payment method. However, it is believed that other stores are going to start following suit throughout the year.
Currently, there are over 70 stores and supermarkets that are owned by China Resources Vanguard Co, that accept Alipay as a form of a payment. For first time customers who are using Alipay, Walmart is offering a discount that ranges from five yuan to 15 yuan for their first time of using this form of payment.
WeChat Wallet will start to be used with Tencent Holding Ltd social networks, allowing for the payment service to be used for messaging apps and the like. In addition, WeChat Wallet has also secured a deal to be used with Carrefour in their stores as a form of payment.
How It Works
With both Alipay and WeChat Wallet, a person can simply use their smartphone, bring up their account, and a barcode will appear. At these stores, the cashier simply scans these barcodes to use this as a form of payment. It is simple, and could save time while checking out in line.
Why Customers Should Use It
Many customers are finding that this is a great alternative to paying with paper money or cards, as it is safer. Chances are, the person is not going to lose their phone versus the chances of losing their wallet. In addition, many customers simply like having their transactions easily accessed online to better know what they have spent.
No matter why these online payment methods are being used in store, they are destined to become more popular, as more people use these accounts to hold their earnings.