CANCAN Press Release: Publication of 2017 Mobile Payment Survey image

2017 MOBILE PAYMENT SURVEY EXPLAINS HOW MOBILE PAYMENTS WILL OVERTAKE CASH AND CREDIT CARDS AS THE PREFERRED PAYMENT CHOICE FOR CHINESE TRAVELLERS SHOPPING ABROAD.

Whilst Chinese consumers expect to make more purchases overseas with QR code mobile payments, four times more so than with credit card and cash, global merchants are still considering or are only beginning to introduce QR code based payment methods at point-of-sale.



Shanghai/Paris, 30 June 2017
Mobile payments specialist CANCAN together with financial research authority Kapronasia (www.kapronasia.com) have announced the publication of the first global study covering the impact of Asian mobile payment solutions at point-of-sale worldwide. Over a thousand Chinese consumers and more than sixty C-level decision-makers from global merchant companies were surveyed for this report.

The 2017 Mobile Payment Survey: Chinese Consumers Abroad (MPS — www.mobilepaysurvey.com) investigates how mobile payments methods such as Alipay and WeChat Pay are shaping Chinese consumer expectations towards shopping outside of China after having broadly and dramatically influenced their consumption behaviour in domestic China. The report also questions global merchant preparation in face of this Asian phenomenon, taking a comprehensive look at actions which have been undertaken thus far, their degree of success and the opportunities which remain unexplored.

By combining consumer and merchant data in one study, MPS contains formidable insight about global retailers regarding the gaps that exist in the marketplace between consumer demand and merchant supply of mobile payments, underscoring the potential and the risks related to this new technology and payment mechanism.

“Global merchants can profit from the mobile payments revolution storming out of the Far East, but they need to focus on the Chinese consumer and carry that dialogue been brand and customer into the future by staying relevant,” says Candice Koo, Managing Director of CANCAN. “Retailers with global operations and substantial business with Asian clients all stand to benefit by actively integrating the mobile payment ecosystem into the overall customer journey.”

“The rapid adoption of mobile payments by Chinese consumers domestically in China is well known, but not as much how they are using them abroad,” says Zennon Kapron, Director at Kapronasia. “The 2017 Mobile Payment Survey is one of the first reports looking at why and how Chinese consumers are using mobile payments internationally.“



For more information, please contact press@mobilepaysurvey.com
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www.mobilepaysurvey.com



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