#mobile-payments

➤ Tencent is testing a new app, TenPayGo, to simplify digital payments and access to services for overseas visitors in China. ➤ The app aims to bridge the gap for foreign travelers in China's predominantly cashless ecosystem, integrating with Weixin Pay. ➤ This initiative aligns with China's efforts to boost international travel and tourism by improving payment accessibility for foreigners.

A study from eMarketer has revealed that mobile payments can be used as effective marketing tools. They can help firms reach millions of consumers. However, retailers are not exploiting the potential of these solutions.

A research from eMarketer demonstrates that mobile payments are becoming more popular in the UK. It is expected that in 2021, proximity transactions made with smartphones will grow to a user share of 28.8%.

Mobile payment solutions provide retailers with several advantages. Giving customers the opportunity to pay with their smartphones while shopping increases the average revenue per user (ARPU) and the profit margin of merchants.