Silkpay will be present at the NRF 2022 retail’s big show (JAN 15-18) in New York to present its payment solutions.
Based in Paris, Silkpay is a fintech company providing Alipay, WeChat Pay, China UnionPay, Visa, Mastercard and other worldwide payment method acceptance. Silkpay provides omnichannel payment solutions to European and American merchants for in-store and online payment acceptance.
Silkpay is one of the few players that offer multi-currency payment solutions with international coverage. Due to many partnerships, Silkpay is able to support traders in Europe, America, Australia and Asia.
Pioneer and expert of Chinese mobile payment in Europe
Silkpay is a partner of Alipay and WeChat Pay, the leaders of Chinese e-wallets with more than a billion users in China.
Our team is driven by a common mission which is allowing Chinese clients to feel better welcome when they travel or live in Europe and allowing western countries to shine by showing their Chinese clientele the best they have. Aware of the importance of simplicity and efficiency, our innovative solution of a universal QR code system allows merchants to simply accept multiple e-wallets with a single QR code.
Mobile payment is now the cornerstone of Chinese e-commerce and a powerful lever of attraction for retailers in Europe and the US.
Connecting worldwide retailers to Chinese customers
According to Nielsen, 90% of Chinese consumers would use mobile payment if given the choice. According to this study, the reasons why Chinese clients prefer Alipay or WeChat Pay are "convenience, speed and familiarity". On top of that, Chinese clients benefit from a favorable exchange rate as well as discounts or promotions integrated into these mobile apps. Silkpay's mission is to implement Chinese mobile payment solutions worldwide and thus connect European retailers to a pool of more than 1 billion Chinese consumers via Alipay and WeChat Pay.
The current retail is primarily the result of the rise of digital marketing, artificial intelligence and mobile payment. Aware of its strong potential, many industry players have already made it the leader of their innovation strategy.
More than a mobile payment solution, These 2 giant apps also offer powerful marketing tools that allow merchants to get known and attract a big number of customers.
Mobile payment, the future of payments in retail
It is not only in China that mobile payment is now the most popular payment method in the world. The National Retail Federation (NRF) confirmed that the pandemic led consumers to use digital wallets and contactless payments more than ever. This was in part due to safety concerns, both digital wallets and contactless payments are set to continue growing.
Cash is no longer king, and FIS expects it to stay that way. It projects that cash will account for only 12.7% of physical store spending by 2024 and that digital wallets will be responsible for 33.4%. Digital wallets dominate e-commerce as well, accounting for 44.5% of spending there. That's projected to grow to 51.7% by 2024.
These numbers can only show us that the retail industry has no choice but to adapt its services to the needs of consumers for a more efficient and better customer payment experience.