PC-EFTPOS March 2019 News

//PC-EFTPOS March 2019 News

PC-EFTPOS March 2019 News

PC-EFTPOS News

‘Australia’s leading provider of integrated EFTPOS solutions’

Welcome to the March edition of PC-EFTPOS news. 

This month we were in Brisbane during the early autumn heatwave.  We know Queensland can be warm but 39 degrees was a bit much.  It was great to catch up with new connections and discuss ways that PC-EFTPOS could work with them.  Also good to see some of our existing clients and hear about their new projects.  I have to say that Topgolf Gold Coast looks like a lot of fun.

We hope you enjoy this edition and as always if there is anything that PC-EFTPOS can help you with then please get in touch.

PC-EFTPOS Enables Chinese Wallet Acceptance

China’s two mobile payments giants, Alipay and WeChat Pay are streets ahead of  their Western rivals in terms of technology, user friendliness and number of users.

In many ways Alipay, which has around 700 million active monthly customers in China, and WeChat Pay, with over one billion, point to the future of payments for the rest of the world.  Apple Pay has only 127 million worldwide, even though it is installed into every iPhone.

The payment apps, and QR codes in retailers on which they depend, have become so common in China that young consumers rarely carry a wallet or cash.  Even buskers display AliPay and WeChat Pay QR codes instead of laying a guitar case on the pavement.

Due to the purchasing power of Chinese outbound tourists, the two payment rivals have become widely accepted in popular travel destinations.  Alipay is accepted in 26 countries across Europe, North America, East Asia, and Southeast Asia.  WeChat Pay can handle payments in 12 currencies in 15 countries and regions.

They are also trying to break into new markets including Australia and New Zealand.

Through extensions, that add to the core EFTPOS payment API, PC-EFTPOS is enabling Chinese wallet acceptance at the point of sale.  This month PC-EFTPOS completed certification of our direct link to Alipay.  We have also undertaken development work on our direct link with epay to support their new Alternative Payments category.  Alipay and WeChat Pay are both available via this link when using epay as the acquirer.

If you would like further information about these Chinese Wallet solutions please contact Andrew or David.

What’s new in payments

Australia has passed the peak number of credit cards in circulation, with consumers increasingly moving to Buy Now Pay Later schemes to fund their lifestyles, according to illion’s Credit Card Nation Report which was released earlier this month.

The report says that in just 4 years Australians have opened 1.8 million Buy Now Pay Later (BNPL) accounts.  By comparison, there are 14.8 million cards in the 45 year old credit card market.  Under 30’s have 10% of the credit cards but 53% of the BNPL accounts.  Women represent 67% of all BNPL users while men hold 56% of credit cards.  Men also represent 59% of those who are two months or more behind in their credit card account repayments.

illion CEO Simon Bligh said the findings represented a shift in spending power to women and younger Australians.  “Therefore, retailers will need to respond to shifts in how consumers want to purchase and pay off their goods and services over coming years, particularly as younger Australians enter adulthood and constitute a growing and more influential proportion of the spending population.”

In other interesting findings from the report:

  • Adelaide has the lowest credit card ownership per capita in Australia, indicating continued loyalty to cash payments in South Australia
  • In 2018, the average credit card transaction was worth $148, compared to $113 in 2008 as Australia was about to be hit by the Global Financial Crisis
  • 220,000 people have four or more credit cards from four or more financial institutions

PC-EFTPOS works closely with the leading Buy Now Pay Later providers including Zip, Oxipay (humm) and Afterpay to support retailers and offer greater choice to consumers by enabling BNPL at the point of sale.

If you would like more information on how to implement our BNPL partners solutions please contact Andrew or David.

Support

The PC-EFTPOS Help Desk team operate during the following hours:

Monday to Friday                8:00am to 10:00pm
Saturday                             9:00am to 5:00pm
Sunday                               10:00am to 3:00pm

You can contact us on 02 9998 9800 or email support@pceftpos.com.au.

Software Releases

To keep up to date with our software releases please use the following link:
https://pceftpos.com/downloads/

2019-03-29T10:54:32+00:00March 29th, 2019|