itb-nz logo
Story image

BNZ merchant customers to get Alipay this year

15 Jun 2018

Bank of New Zealand has announced a partnership with Alipay and Verifone that will enable BNZ’s merchant customers to accept Alipay payments.

Alipay, operated by Ant Financial, a related company of Alibaba Group, is the world’s largest mobile and online payments platform with more than 600 million Chinese users.

It is now a more popular payment method than cash in China.

BNZ is the first New Zealand bank to offer its merchant customers the ability to accept Alipay as a payment method.

“We’re providing greater flexibility and convenience to the 430,000 Chinese tourists who visit each year, at the same time as supporting New Zealand businesses by extending our services to include the ability to accept Alipay payments,” says BNZ Partners chief customer officer Shelley Ruha.

“Managing foreign currency in a country whose language you may not be fluent in can be one of the least enjoyable aspects of travelling. We’re delighted that we can help remove that hassle for Chinese visitors and make their Kiwi experience as easy and seamless as possible, by providing them with a range of options to make transactions, including those they choose to use at home.”

Tourism figures show Chinese visitors spent over $1.5 billion on their Kiwi experience last year.

Following a short pilot that’s underway with Alipay now, BNZ expects to launch to market in July.

“Alipay acceptance in New Zealand has grown from fewer than 300 merchants 12 months ago to several thousand today,” says Alipay Australia and New Zealand country manager George Lawson.

“This growth will be turbo-charged with BNZ being the first financial institution to partner with Alipay in New Zealand. This gives BNZ a significant advantage with businesses looking to work with Chinese customers.

“When it comes to tourism, New Zealand is the envy of the world with its clean and green image, natural beauty and world-renowned brands. However, this shouldn’t be taken for granted, and using Alipay to improve the point-of-sale experience and market more effectively in a foreign language can be a major boost to local businesses and ultimately, the New Zealand economy.”

Currently, 12% of New Zealand’s tourists come from China, and nearly 31 million Chinese are actively considering a trip here.

New Zealand also hosts 28,500 Chinese students, who remain active users of their Chinese bank accounts while studying abroad.

It’s projected Chinese visitors will be spending $4.3 billion in New Zealand annually by 2023, with visitor numbers expected to reach just under one million per year.

This will equate to 37% of total international visitor growth between 2016 and 2023, and 51% of total visitor spending.

Merchants that have a Verifone payment terminal and payment services with BNZ will be able to process Alipay payments on the spot.

The terminal generates an Alipay QR code that the Chinese customer scans on their mobile to complete the transaction.

BNZ merchants are also able to accept Visa, Mastercard and Union Pay as payment options via their card terminals.

Initially, BNZ’s merchant customers will need to use Verifone payment terminals for Alipay, however, the service will expand across other terminal options over time.

Story image
A/NZ healthcare organisation chooses Nintex to improve operations
Nintex has announced the Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG) has chosen the Nintex Process Platform as part of its broader member engagement strategy.More
Story image
New sales director for Board International A/NZ
Nic Dennis joins Board International with more than 25 years experience of sales and business development in the IT industry.More
Story image
Start-up raises 1M, looks to save enterprises from technical debt
“We are on a mission to help enterprises deliver high-quality SaaS implementations at scale by shining a light on the costly and problematic issue of technical debt."More
Story image
Pluralsight offers 7,000+ online tech courses free for April
In a bid to encourage online learners to stay home and upskill during COVID-19 lockdowns, Pluralsight, the enterprise technology skills platform, has made its 7,000+ courses available for free for the month of April.More
Story image
Interview: Aura GM on security implications for enterprise during and post-pandemic
Techday spoke with Aura Information Security general manager Peter Bailey on what this new normal means for cybersecurity, and its potential lasting effect on organisations.More
Story image
COVID-19: Telco cloud revenue from 5G to drop by 25%
Telco cloud revenue from 5G core deployments will fall between 20%-30% short of the forecasted US$9 billion in 2020. The investment shortfall in modernising telco networks may be somewhere in the range of US$2 to US$3 billion in the short term.More