“In China, we don’t even refer to this method as mobile payment, it is just the preferred and expected way. From household expenses to large scale purchases, everyday transactions are generally made via mobile options such as Ali Pay or WeChat Pay. Credit cards will not get you far in China unless you are spending at high end restaurants or hotels. Cash is also rarer all the time.”
This last point is the centrepiece of Max So’s work to support Canadian merchants. He wants to help vendors understand their Chinese customers’ spending culture and patterns so that they can reap the benefits and thrive while serving consumers effectively.
According to So, “the traditional understanding of 80% of revenue going to 20% of the businesses in the economy has now flipped around. Mobile payments and global access allows more people to enter the market as merchants.” For Max So, satisfaction goes beyond helping businesses do better. He strives “to help especially those small and medium businesses that enhance each region’s uniqueness to succeed and to flourish.”
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