Singles’ Day 2023: how can luxury leverage mobile payments? ...Middle East

Barriers between China’s rival mobile payment systems, Tencent’s WeChat Pay and Alibaba’s Alipay, are disintegrating, with more e-commerce platforms providing both options for an increasing number of users and products. This is good news for luxury brands, which would be able to offer their customers a wider range of payment options on major e-commerce platforms like Tmall and JD.com. The payment integration could propel higher sales volumes and enhanced customer loyalty, critical factors in sustaining the luxury sector’s growth trajectory in China. Consumer choice WeChat Pay had been introduced as a payment alternative on some Alibaba platforms in 2021, like the food delivery service Ele.

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