LONDON--(BUSINESS WIRE)--Integrated payments and marketing platform RiverPay Inc. today announced that it has launched a partnership with iconic global health and wellness retailer Holland & Barrett to exclusively add world’s leading mobile payments tool Alipay to the brand’s more than 1,600 retail stores around the globe, including 800 in the UK and Ireland. As part of the agreement, RiverPay has also integrated Alipay into Holland & Barrett’s official online shop to enable Alipay users to buy the wide range of health products anywhere and anytime.
Higher disposable incomes and increasing health awareness among Chinese consumers in the growing middle class have been key drivers in the demand for high-quality vitamins and dietary supplements (VDS). By 2020, the VDS market in China is expected to reach CNY 149 billion (£16.9 billion)1, where Holland & Barrett is highly popular among health-conscious Chinese consumers.
Ryan Zheng, Co-founder and CEO of RiverPay said: “Health and wellness has been a growing retail sector with huge potential among Chinese consumers. We are thrilled to partner with Holland & Barrett globally and bring strong Chinese purchasing power through their doors, which also marks a significant step toward strengthening RiverPay’s foothold in the health and wellness space.
It’s a shared mission for Alipay and RiverPay to help hundreds of millions of Chinese travellers feel more at home when shopping overseas. RiverPay is proud to assist in the process of offering them the payment method with which they are most comfortable.”
The new partnership, which builds on a successful pilot over the past two years, will enable Holland & Barrett to tap into Alipay’s over one billion users in China and beyond, and especially capitalise on the growing volume and spending power of Chinese tourists abroad. In the UK alone, Chinese visitor numbers are expected to be up 43% in 2019 compared with 2018. Chinese tourists are also forecast to spend more than £1 billion in the UK in 2019 - an increase of 50% from last year2. A recent Nielsen report also revealed that 91% of Chinese tourists travelling abroad would likely spend more if merchants accepted Chinese mobile payment tools3.
The partnership also sees Holland & Barrett automatically enrolled in Alipay’s merchant listings, which instantly increases awareness of retail locations to travellers by pushing notifications to their phones where they can see available products, opening hours and get directions to Holland & Barrett stores.
Yana Geng, Business Development Director of Alipay EMEA said: “Vitamins and dietary supplements are extremely sought-after among Chinese shoppers, especially when they are travelling overseas. This is because their level of trust in international brands is typically higher than that of domestic brands.
Alipay is excited to be working with Holland & Barrett and RiverPay to bring popular health and wellness products to the masses. This partnership will enhance Holland & Barrett’s appeal to Chinese visitors by providing them with the same familiar payment experience that they enjoy at home and by facilitating e-payments in Chinese Yuan. Holland & Barrett is the first of many overseas merchants we are targeting in the VDS market, as we continue our mission to provide Chinese tourists with a seamless travel and payment experience when travelling abroad.”
About RiverPay (www.riverpayment.com)
RiverPay is an integrated payments and marketing platform to connect Chinese consumers with overseas merchants. As an authorized payment service provider of Alipay and WeChat Pay, RiverPay offers technology solutions and settlement services to allow Chinese consumers to pay in CNY and merchants to receive USD, CAD, GBP, EUR, and more. RiverPay currently serves over 12,000 merchants across North America and Europe, including Saks Fifth Avenue, HBC, Selfridges, Holt Renfrew, Harry Rosen, Dilawri, Prada, Dolce&Gabbana, Tiffany and Co, De Beers and MaxMara.
Vitamins & Minerals - China