Wirecard records with Chinese payment methods at individual merchants transaction volumes of up to EUR 10 million per month
Wirecard, the leading global innovation driver in digital financial technology, together with its partner Safety Tax Free, has won the long-established German company Faber-Castell as a customer for the integration of Chinese payment solutions. Wirecard provides Faber-Castell, one of the world’s leading providers of writing materials and stationery, with a fully digitalized payment approach for some of the most popular Chinese payment methods, including Alipay.
The partnership benefits Chinese customers, who can now pay in Faber-Castell brand shops in Germany as if they were in their home country, without having to exchange money. In addition, they can also take advantage of special offers and coupons. Introducing fully digitalized payment methods is lucrative for merchants and suppliers. For example, Wirecard records with Chinese payment methods at individual merchants a transaction volume of up to EUR 10 million per month.
Faber-Castell, which was founded in 1761, is one of the oldest industrial companies in the world and has been family-owned for nine generations. The digital payment solution will initially be launched in Faber-Castell’s four brand shops: in Frankfurt, Düsseldorf and Hamburg, and at the Faber-Castell castle in Stein near Nuremberg. Thanks to Wirecard’s digital solution, Chinese customers will also benefit from higher VAT refund rates thanks to Safety Tax Free.
Chengyuan Zhai, Founder and Managing Director of Safety Tax Free, said, “The joint solution with Wirecard accepts mobile payment methods such as Alipay and allows shoppers from China to create digital and fully completed refund forms with just one click. This completely eliminates the need to fill out tax refund forms by hand and stand in line at the airport. Customers save time and the amount is transferred within a few days directly for example to the desired Alipay account in the local currency – without exchange costs – which further increases customer satisfaction.”
Catharina Tiede, Head of Partner Management Consumer Goods at Wirecard, added, “Chinese tourists are world travel champions, and therefore the potential for Faber-Castell and other European retailers is enormous. We are pleased to support the traditional Faber-Castell brand in taking a step towards digitized payment by equipping the brand shops with our innovative and practical payment solution.”