Hoping to capitalize on “the rising power of the Chinese consumer,” Toronto-based retailer Sleep Country Canada has started accepting payments through popular Chinese mobile apps Alipay and WeChat Pay at select locations.
According to Yahoo! Finance, 21 store locations in the Greater Toronto Area and Greater Vancouver Area will be accepting payments through these mobile apps, which have over 2.1 billion active users combined.
The report notes that Sleep Country has launched a pilot program in partnership with Canadian tech firm SnapPay, allowing customers to purchase items using Alibaba and WeChat Pay.
“The rising power of the Chinese consumer provides North American merchants with an opportunity to leverage a vast new revenue channel,” the company said in a statement.
Dan McKinley, vice president of sales with Sleep Country Canada, said in an interview with Yahoo Finance Canada that the Chinese community has been a significant market segment for the company, and that the mattress retailer wanted to ensure customers were able to pay in the way most convenient to them.
“Our hope is that it attracts more customers because this is, for a lot of the Chinese community and our customers, the favourable way to pay,” McKinley said in an interview. “It is a big market segment for us, and we are continually looking to grow it.”
Sleep Country will assess the pilot program after 90 days before considering its expansion to other markets.