Bringing Global Innovations Home

Recent partnerships in Asia are having a big impact on payments around the world.

Date:Nov. 27, 2018

As a global company, one of our biggest strengths is having access to the consumer innovations that are developed all over the world.

 

Because we have 19 offices across the globe and a presence in more than 30 countries, we have teams of dedicated employees who stay on the cutting edge of the newest payment solutions firsthand regardless of where they start, from the U.S. to China. And our experience in launching products and solutions gives us the expertise to apply any of these innovations in any applicable market.

 

One of the latest payment innovations we are excited about began in the Chinese market and, with our help, is making its way to the U.S. and other countries.

 

In 2017, InComm partnered with WeChat, a popular Chinese social app and payment solution for more than 1 billion active users. On top of a payment method, WeChat is a ubiquitous app for social networking and messaging. More recently, InComm partnered with Alipay, a popular payment method in China with more than 520 million active users.

 

Both of these companies offer their users a seamless mobile payment solution that utilizes a QR code, which can be easily scanned at the point of sale to purchase a wide variety of everyday items. While mobile payments are growing in popularity in the U.S., they are already ubiquitous in many Asian markets thanks to apps like WeChat and Alipay. For many consumers, these apps are not only replacing cash, but also leapfrogging debit or credit completely.

 

In fact, these apps are becoming so popular, street vendors and musicians in China are finding ways to accept them for payments or tips.

 

By partnering with InComm, these apps can increase their viability outside of their home markets, allowing Chinese tourists to use them while travelling to many countries, including the U.S. This also opens the door for many other consumers to embrace and use payment methods that stray from the norm.

 

These are the steps that often precede a big change in the consumer experience. We are proud to be creating a smoother path for that change.