Network International introduces WeChat Pay on N-Genius

Thursday 17 August 2023 10:07 CET | News

UAE-based Network International has introduced WeChat Pay acceptance on its POS terminals across the United Arab Emirates.

Consolidating its long-term partnership with Tencent, the developer of WeChat, Network International will enable Chinese tourists to make secure transactions via their WeChat Pay mobile wallet.

Currently, WeChat Pay is accepted at 5,000 Network payment terminals across the UAE region, including in approximately 400 outlets in Dubai’s malls, part of the provider’s merchant partner ecosystem. Moreover, Network is working on activating WeChat Pay in its Android-powered terminals.

Post-pandemic, the UAE’s tourism has seen considerable growth, reaching 8.55 million international overnight tourists in the first half of 2023. China has been among the top five source markets for Dubai, and, according to Dubai Economy and Tourism’s data, the number of Chinese visitors reached 177,000 in 2022, an increase of 131% from 2021. Also, the flights from China to the UAE have increased to 73%, as per the information provided by aviation data company Variflight.

Network’s officials have stated that the partnership is in line with their commitment to support the UAE’s payment ecosystem, therefore making new payment methods available to merchants through collaborations with international businesses. Moreover, the collaboration expands the use of mobile payments in the UAE, enabling a familiar mobile payment experience for Chinese tourists.

Digital payments for tourists

According to the UAE’s Ministry of Economy report, the travel and tourism sector contributed approximately 9% to the country’s GDP in 2022, while the total number of international tourists spending reached USD 31,847 billion. The number of hotel guests has also increased, reaching 25 million in 2022, almost reaching the pre-pandemic number of 27 million.

Adjusting the payment methods to tourists could improve their experience, therefore increasing the rate of return. As the popularity of digital solutions has increased, including digital wallets, contactless payments, and BNPL methods, participants in the tourism industry should understand the importance of multi-language and multi-currency payments.

Considering that more holidays are booked digitally, the tourism sector is presented with opportunities to accommodate their customers. Digital payment methods are preferred, as tourists want a secure payment experience, while also having the option of not entering their details for every purchase. Tokenization and merchant-initiated transactions are becoming more relevant in this industry, as they enable the tourists’ payment details to be stored securely and utilised for future payments.

More information about Network and WeChat Pay

Network International has also recently expanded its collaboration with fintech noqodi, striving to broaden the digital payment offering addressed to new business categories, as well as to increase the UAE’s cashless economy.

Back in March 2023, WeChat included China’s central bank digital currency in its payment services. The addition aimed to increase the appeal of the digital yuan, with WeChat being the second payment platform to support the fast payment function of the digital yuan wallet, after Alipay.

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Keywords:	mobile payments, digital payments, cashless, digital currency
Categories:	Payments & Commerce
Companies:	Network International, WeChat
Countries:	United Arab Emirates

This article is part of category

Payments & Commerce

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