News • 20.08.2018

Mobile payment service

Mall of America® welcomes chinese consumers

Women at store; Copyright panthermedia/netleungchopan...
Source: panthermedia.net/leungchopan

CITCON, the leading cross-border mobile payment and marketing company announced today its partnership with Mall of America®, the nation's largest entertainment and retail complex. The CITCON cross-border mobile payment solution will be implemented into various MOA merchandise shops, guest services and throughout Nickelodeon Universe®, the 7-acre theme park inside Mall of America.

The CITCON solution allows MOA merchants to expand reach and better engage with over one billion Chinese consumers who are actively using Alipay and WeChat Pay as their preferred payment methods and communications platforms at home and abroad. The solution also enables merchants to reduce friction in the checkout process, offer seamless payment experiences anywhere in the store, engage consumers in new and innovative ways, and help consumers locate stores nearby and claim coupons. Through Alipay's geolocation-based "Discover" function and push notifications within the app, Chinese travelers can also locate merchants at MOA, receive promotional information and make purchasing decisions.

"As a destination that attracts over 40 million visitors annually, it's crucial for us to continue providing services for our guests to create a seamless experience when visiting Mall of America," said SVP of Business Development and Marketing Jill Renslow. "CITCON's dedication to providing familiarity and convenience to Chinese consumers is something that resonates greatly with us and we're excited to implement their payment solution across our property."

"We are thrilled to partner with Mall of America to bring a seamless payment and shopping experience to modern Chinese consumers," said Chuck Huang, Founder and CEO, CITCON. "Chinese consumers have become accustomed to the idea of doing everything on mobile. Retail experience begins with knowing your customers. Accepting the familiar and preferred mobile payment options has become a necessity for retailers to deliver exceptional customer experience that matches with the changing behavior of today's Chinese consumers."

China has been the world's number one outbound tourism country for five consecutive years, with spending from Chinese tourists abroad making up 21 percent of all tourism spending. In addition, each Chinese traveler spends on average more per trip than tourists from any other country. United States has been one of the most popular destinations for Chinese travelers. In 2020, five million Chinese travelers are expected to spend $80 billion in the United States.

Travel retail is worth about 15 percent of the broader personal luxury goods market, and the global value of travel retail itself is set to reach $85 billion by 2020. Chinese consumers will remain one of the biggest drivers of growth in the global luxury market in the foreseeable future.  

Source: CITCON

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