A number of clients struggle with this, particularly those tourism experiences without a physical shop front.
Research from Tourism Research Australia shows that in 2018, 1.4m Tourists from China injected AUD$11.7Bn spend into the Australian economy, and this is forecast to triple to $34Bn by 2026. These investment figures could be significantly higher if we made it easier for tourists to make payments using their preferred platforms.
According to a paper released by Trade and Investment Queensland and prepared by Andy Jiang 54% of daily transactions in China are conducted by mobile payments Alipay and WeChat Pay, and 27% of transactions by UnionPay International.
Most incredibly, there are not any Financial Institutions in Australia who have exclusive payment agreements with Alipay or WeChat Pay and there are a number of ongoing discussions.
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