The integration with Alipay, the world’s largest mobile and online payment platform, provides Australian businesses improved access to the lucrative and rapidly expanding Chinese visitor market. 

Tyro CEO Robbie Cooke said the Alipay integration continues the company’s strategy of enabling its merchants to accept all payment types and letting customers choose the way they want to pay. This integration will be made available to Tyro’s other eligible 20,000-plus businesses from Q2 2019, as it seeks to diversify its revenue streams.

Richard Goodman, Managing Director of Heinemann Australia said: “We are excited to partner with Tyro in launching Alipay. We know Alipay is not only the preferred payment method by many of our valued Chinese customers, but it also offers increased convenience, with the trend toward cashless digital wallets. We look forward to rolling it out across our Australian stores.”

Tyro signed a deal with Alipay in August 2018.

The integration with Alipay, the world’s largest mobile and online payment platform, provides Australian businesses improved access to the lucrative and rapidly expanding Chinese visitor market. 

“Bringing innovative payment and banking solutions to Australian businesses is what Tyro is all about and our partnership with Alipay allows us to offer Tyro merchants a market-leading initiative with a unique point of difference,” added Tyro CEO Robbie Cooke.

“We are thrilled to have Heinemann Australia on board as our first merchant taking advantage of Tyro’s Alipay integration and proud to be the first bank in the country to bring this exciting initiative to Australian businesses.

“This is all the more impressive given it was only at the end of August that we signed our deal with Alipay.”

Australian businesses will benefit from Tyro’s Alipay integration since they’ll be able to capture and capitalise on Chinese tourist market which could be worth an estimated AUS$13bn by 2020. Increase inconvenience, simple and seamless payment option to visitors, all of these will result in opportunity for revenue growth. There’s no other reason why you shouldn’t incorporate technology into your business.

Refer to article written by Luke Barras-Hill for TRBusiness.

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