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Premier Tax Free, the Tax Free Shopping company, has signed an agreement with Tenpay, part of the Tencent group, to launch a series of programmes allowing Chinese tourists to claim back tax quickly and easily through WeChat and QQ, two of the largest social media platforms in China.
20th September 2017.
Premier Tax Free, the Tax Free Shopping company, has signed an agreement with Tenpay, part of the Tencent group, to launch a series of programmes allowing Chinese tourists to claim back tax quickly and easily through WeChat and QQ, two of the largest social media platforms in China.
Premier Tax Free and WeChat will offer Chinese shoppers various convenient refund tools allowing them a choice of refund options, whether they are in the airport or at the point of sale.
WeChat is the number one Chinese app in the market, with over 846 million active users, more than half of WeChat users use the app at least 10 times per day. Starting from 2013, Tencent has worked aggressively to promote “WeChat Pay” which currently has coverage in over 20 markets.
Chinese shoppers are a consistently lucrative target for the UK Tax Free Shopping market. The latest figures from Premier Tax Free’s Premier Vision report show that Chinese shoppers posted growth in tax free sales turnover of 27%) year to date in 2017.
The agreement between Fintrax Group and Tenpay is just the beginning of the many upcoming programmes between the two brands. A focus on digital refund tools for international shoppers will reflect the growing popularity of mobile payments. The partnership will focus on providing various value-added services for Premier Tax Free’s partner brands and merchants to drive valuable Chinese tourist traffic into their stores.
Gary Byrne, Director of Group Strategic Partnerships & New Markets for Fintrax added, “We are thrilled to be working with Tencent on such effective digital solutions for Chinese tourists. By working directly with the Tencent team in China we have been able to devise a solution that will continue to draw Chinese shoppers to the UK market and give them greater choice for tax refunds.’’
Eurazeo, the biggest shareholder in Premier Tax Free’s parent company Fintrax, has also been actively involved in the creation of this partnership.
