Yandex offers WeChat Pay in Russia

17/11/2018

 

To conquer Chinese tourists, the Russian platform Yandex integrated WeChat Pay

 

Chinese tourists, with their average per capita increasing year by year, are increasingly sought by the rest of the world. With this aim, Russian payment platform Yandex.Checkout has integrated WeChat Pay into its services, targeting merchants and providing a familiar payment option to Chinese tourists visiting the country.

The company, which welcomes around 1.5 million Chinese tourists annually, is one of the first to introduce the payment system to the Russia. Among the first companies that have implemented WeChat Pay is the chain of digital electronic stores Citilink. Sergey Potopnin, the company’s chief financial officer, said Citilink is interested in testing QR code payments in Russia and believes that they could spread across the country.

 

Chinese tourists made more than 130 million trips overseas in 2017

 

It is interesting to note that the main factor that led Chinese payments abroad were not big marketing operations and big publicity, but the Chinese ones themselves. Thanks to them, the two main Chinese operators in mobile payments, Alipay and WeChat Pay, have worked with tens of thousands of traders abroad to become the supplier of choice in the global payment market.

The strength of Chinese tourists is impressive: Chinese tourists have made more than 130 million trips abroad in 2017, spending $ 115 billion. These numbers represent respectively 7% and 5% of increases year on year.

 

Europe saw the most growth in terms of transactions

 

The numbers are particularly loud because only 6% of China’s population holds passports. According to the data, the total number of Chinese citizens traveling abroad should increase by 200 million over the next two years.

During China’s Golden Week, the number of overseas payments made through Alipay grew significantly with destinations including Hong Kong, Thailand, and Japan. Both WeChat and Alipay also offer services for international tax refunds for Chinese tourists

 

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