Harrods accepts Alipay and WeChat Pay through RiverPay

This move expands RiverPay’s footprint in the European market focusing on the high-end retail sector. RiverPay’s in-store payments system supporting Alipay and WeChat Pay was integrated with Harrods existing payments infrastructure and is expected to further boost the store’s ability to capture the growing and lucrative Chinese outbound tourism market.

In addition to the 393,000 Chinese residents and 95,000 Chinese students in the UK, Chinese outbound travellers represent an increasingly important customer segment for UK retailers. According to the press release, the payment habits of Chinese consumers have evolved drastically over recent years, with a definitive preference towards mobile payment and cashless transactions. In 2018, 69% of Chinese travellers paid with their mobile phones while abroad, while 94% of Chinese travellers surveyed by Nielsen said they would be more willing to pay with their mobile phones if this payment method becomes more widely adopted by local merchants in overseas markets. 93% of them would likely increase their spending if mobile payments options would be available, according to Nielsen.

RiverPay’s integration of payment technology into the retailer’s current cashier system without interruption results in no downtime in setting up payment options. Payments through Alipay and WeChat Pay QR codes can be settled in British pounds within a short time.