As cashless payment modes grow in popularity, businesses start adopting these new cashless methods to keep up with the times. Despite the proliferation of players in the e-payment industry, WeChat Pay remains one of the most established players worldwide. As one of the most popular e-payment providers within China, WeChat Pay has over hundreds of millions of active users. Similar to other e-payment solutions, WeChat Pay provides efficient payment experiences with various services such as QR Code payment and Quick Pay.
Currently, more than half of stores in Singapore’s Changi Airport support WeChat Pay. According to Changi Airport Group’s (CAG) media release, CAG has taken steps toward deeper integration of WeChat Pay with the signing of a strategic partnership agreement on 11th June 2018. WeChat Pay will be launched as one of the official mobile payment methods in Changi Airport, available in more than 130 outlets.
Furthermore, the agreement involves 3-year long marketing partnership between CAG and WeChat Pay which includes exclusive promotions for WeChat Pay users. An ongoing shopping promotion has been launched to celebrate the official introduction of WeChat Pay to Changi Airport, lasting from 3rd June – 14th July 2018. WeChat customers can enjoy 50 RMB (approx. S$10.40) discounts for every 500 RMB (approx. S$104.40) spent. However, each WeChat customer can only enjoy up to 150 RMB (approx. S$30) discount in total.
Alongside the popularity of e-payment modes, the increasing importance of Chinese tourists in Singapore is pushing businesses such as CAG to adopt Chinese mobile payment solutions. The significant growth of Chinese tourism is reflected in 2017’s record 17.4 million Chinese tourist visits in Singapore. In addition, China remained the first place when it came to visitor spending with over $3 billion receipts last year. Launching WeChat Pay will allow CAG to better secure and serve Chinese customers with both incentives and greater convenience. This contributes to increase in Chinese tourist spending and thus, revenue earned.