The mobile wallet is a muchdebated subject in China, as approximately half the country’s internet subscribersare using mobile payment solutionssuch as WeChat Pay. Offline stores are now keenly watching for a seamless solution with the mobile wallet as online payment is anessential part of O2O (online to offline) trade. The WeChat Paymentprocessmay likely be one of the topalternatives currently available, since itlets a merchant to link and incorporate their smartphone’s WeChat Pay account into a POS terminal through using external supplementary hardware known as “Magic Cube”
Displayed below are some fundamental benefits on how WeChat Pay solution can streamline and improve your company’s payment proficiencyusing O2O.
- LaunchMembership packages
In the modern O2O world, the group approach can efficientlysupport retailers in establishing their customer foundation, improving customer retention rate and increasing consumption regularity. WeChat Pay can help merchants in this regardthrough automatically identifyingaffluent customers throughout the payment procedure and categorizing them as VIP members. By establishing membership packages and programs through WeChat, it grants loyal customer’sadditional discounts and helps merchants increase customer satisfaction, which will grow sales over time.
Additionally, this considerable data-driven tool is perfect for observing social analytics and can support merchants in developing the most ideal business and advertisingdecisions. Membership structuresthrough WeChat Pay can benefitbusinesses through obtaining valuable dataincluding spending influence and purchasing patterns, letting merchants more accuratelydecide on the best strategic decision.
- Coupon Redemption
Handing out discount coupons is a prevalentcorporate practice even for offline dealers as it is an effective and directbusiness and marketing policy. On the other hand, regularly printed tickets are difficult to account for when the marketing campaign concludes, which could lead to difficulties such asinaccuracy of ROIs. Using WeChat Pay, vouchers can now be automatically circulated to customers by directing it to their WeChat account. The Magic Cube can automatically identify and distinguish the discount couponsthroughout the payment procedure and permit the customer in redeeming their discount. Preferably, voucher redemption can be veryvaluable to both customers and companies alike, particularly in the age of O2O where discount coupons can efficientlyimprove online sales.
- Remote Payment Processes
WeChat Pay can even be employed in a remote process, which is indispensable for retailers like restaurants and cafés where the bills are typicallycarried to the customer’s table by a waiter. It is extremelysimple to operate WeChat Pay’s remote payment solution. The cashier can just produce and print out a physical receipt that holdsanexplicit QR code. The receipt can then be given to the customers lettingthem scan the QR code by using their smartphone to authorize and implement the payment.
WeChat Pay’s remote payment system is certainlyconvenient in reforming payment processes even for starting or small businesses.
- Mobile Payment Solutions
If WeChat Pay is so prevalent in China, why are some merchants still reluctant to progress to this solution? This is since not every individual isable to accommodate for the time and financial expenses associated withdeveloping their existing POS system.
WeChat Pay’s Magic Cube can be the seamless solution in respects to this task,as it is auseful device with a QR code scanner and display built-in and made in the shape of a small cube. The Magic Cube lets merchants effortlessly and directly connects a smartphone through their POS computer and receipt printer at a very economical rate.
The fundamental trait of the WeChat Pay solution is the use of QR Code, as it is exceedingly simple and unproblematic to start up. Once established, consumers can perform the payment of their in-store acquisitions through their smartphone. The customer simply scans the QR code that is produced on the Magic Cube’s display and approves the payment through their WeChat Pay account by pressing on the payment verification button. The Magic Cube can also be used the other way around, by scanning the QR code that is produced by the client’s smartphone and approving the payment digitally. WeChat Pay QR code is definitelya remarkable innovation that supports in streamlining the payment procedure for both business and customers.
WeChat Pay QR Code is an invaluable innovation for companies of all types. The quicker you and your industryadjust to this payment system, the sooner your business can beginacquiring the profits of the China market. Get started by contacting a trusted WeChat Pay solution provider to learn more about this proficient payment approach.