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Ever wondered how you could include China’s largest third-party payment systems into your payment options? This was the topic of discussion at ACBC’s most recent roundtable event with guest speaker Robert Burns, held at International Chamber House on Monday 10 October. Robert is General Manager at DDbill Technologies and has over 13 years of experience in sales and marketing in China.
DDbill Technologies is a technology company with mobile wallet, online and O2O, and retail stores. DDBill is the owner of Dinpay, a cross-border payment gateway solution that simplifies payments from China. Robert began the discussion by casting back to China’s first currencies, highlighting how radical the recent changes have been in the context of China’s history. Recent years have seen QR emerging as the currency of choice and cash is fast becoming a dying concept in China. This shift doesn’t only benefit Chinese consumers, as cashless transactions are preventing the spread of counterfeit money which has become a big problem in China. Cashless E-wallets are taking over the traditional wallet because consumers want greater security and faster, more secure payments.
Robbie stressed that Australian businesses now have the means to adapt to this shift. He gave a demonstration of how a new POS machine available for Australian merchants can allow transactions through Chinese payment systems including Wechat Pay and Alipay offline. The process was quick and simple. Robert further emphasised the simplicity of the system, detailing exactly how Dinpay facilitates these payments in Australia.
When the floor opened up to questions, Robbie answered queriesregarding transaction fees, currency conversion, cross-border web payments, compliance issues, linking payment options to mobile apps and the availability of payment systems for online merchants.
Overall, guests were left feeling optimistic that incorporating China payment options into Australian businesses is not only possible, but feasible. The ease in which Australian businesses can accommodate for China’s most popular payment systems suggests that Alipay and Wechat Pay, along with others, will soon be a common feature in Australian businesses.
ACBC thanks Robert Burns for facilitating such an interesting and detailed discussion.