USA. Foreign currency company Travelex and digital gifting platform Swych have partnered to create a WeChat-powered cashless shopping solution for Chinese travellers in the USA.
The Travelex Pay service enables WeChat users to instantly and securely debit their WeChat Pay account in exchange for digital gift cards offered by Swych of the equivalent amount, to be used as a payment method at checkout.
Gift cards can be created by the user either while at the checkout or at any point before purchase. The service and payment is hosted entirely within the WeChat global mobile messaging app.
Travelex Pay is now available at hundreds of US retailers, including in the travel sector, the partners said.
Tourists from mainland China spent US$30 billion in the USA in 2016, the partners noted. That figure is expected to double to US$60 billion by 2020.
“Chinese tourism in the USA is increasing – both in number of people and the amount of money spent,” said Swych CEO and Founder Deepak Jain. “With more than 90% of Chinese tourists expressing interest in using mobile payments overseas if given the choice, Swych and Travelex, with WeChat Pay, have combined service offerings to fill the demand for a frictionless and zero-fee payment option.
“This is yet another innovation aimed at furthering cross-border commerce and making Swych the most advanced digital gifting platform in the market.”
Travelex CEO for North America James Hewitt commented: “Swych and Travelex Pay are making cross-border shopping more seamless for Chinese WeChat customers who visit the USA and use Travelex Pay.
“We are excited about this partnership and to provide Chinese consumers a cutting edge, digital payments experience.”
