Alipay now on Tyro

POS SOFTWARE

We are having a bit of a laugh here about people encouraging Chinese tourists in the shop with all this coronavirus now.

The experts, by the way, are disputing whether the masks will work and if so by how much. One point I noticed was whatever the medical people are saying they are all wearing these masks in China.

 

Alipay

 

Alipay is the preferred payment method for Chinese people visiting Australia. As about 1.2 million Chinese tourists come to Australia each year and about 91% of them have Alipay. Each Chinese person spends an average of $8,000 per visit. This makes them in dollar terms our number one tourist trade. Plus on top of that, many Chinese nationals and students are living in Australia that uses it,  so giving Alipay access to a massive market in Australia. 

Anyway having said that Alipay should now if you use Tyro for EFTPOS be available, click here for details

It’s all done through the terminal too, so merchants don’t need an extra device clogging up their area.

The cost is a flat rate of 1.3% (plus GST) currently across the board so I would suggest in your point of sale software a 1.45% surcharge initially.  Although you may want to review that if you start using it, as generally, these fees are calculated by the following method

1、Fee amount = total transaction amount in Chinese currency * exchange rate * fee rate

2、The fee amount is rounded

You may find that the exchange rate and rounding affect the amount, but even so, it would not be by that much, I am sure. Also, it may be a plus that it is in Chinese currency as I noticed when I was in China, I got a better rate for my money there than in Australia.

 

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