Toronto-based digital payment solutions startup SnapPay has launched a pilot program with Sleep Country, which will allow Chinese consumers to pay with Alipay and WeChat Pay at select Sleep Country stores.
“Our mission is to enable merchants to capitalize on the growing, thriving Chinese consumer market in North America.”
Founded in 2017, SnapPay is a payment gateway that allows North American merchants to accept digital payments from the two largest Chinese payment platforms, Alipay and WeChat Pay, which have a combined 2.1 billion active users. The new partnership will facilitate payments through the two platforms at 21 Sleep Country store locations across the Greater Toronto Area and Greater Vancouver Area.
“With the trend of mobile payments gaining momentum, we aim to offer our customers the latest and most popular payment options that they’re comfortable with,” said Dan McKinley, vice president of sales at Sleep Country Canada. “The support of SnapPay and their payment partners like Alipay, have aided us in providing branded marketing support and incentive offers and convenience to our Chinese customer base, which has helped build our brand and offer a world-class experience in this competitive landscape.”
SnapPay is looking to take advantage of the increasing power of the Chinese consumer, which it says can provide North American merchants with a vast, new revenue channel. In 2016, Canada encompassed 1.7 million Chinese immigrants, more than 600,000 visitors, along with over 140,000 Chinese post-secondary students.
SnapPay wants to offer Canadian merchants a way to engage this relatively untapped customer segment. The SnapPay platform aims to allow consumers to pay in Chinese currency with a QR scan from their mobile app, while merchants are paid in Canadian or US dollars.
“Our mission at SnapPay is to enable merchants to capitalize on the growing, thriving Chinese consumer market in North America,” said Chris Renton, chief growth officer of SnapPay. “We help brands and retailers connect to Chinese consumers, and are pleased to partner with an innovative, industry-leader, such as Sleep Country Canada.”
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