PaymentsWirecard Enables Chinese Mobile Payment Methods for NK, Sweden’s Most Iconic Department Store

FintecBuzz FintecBuzz6 months ago678 min
  • NK welcomes over 9 million visitors annually to its luxury stores in Stockholm and Gothenburg
  • Wirecard will enable NK department stores to accept leading Chinese mobile payment methods
  • Department stores are one of the top shopping destinations for Chinese tourists, along with duty-free shops and large supermarkets

Wirecard, the global innovation leader for digital financial technology, has announced a new customer win with NK (Nordiska Kompaniet) department stores. One of Sweden’s most famous department stores, NK welcomes over 9 million visitors annually to its luxury stores in Stockholm and Gothenburg. Wirecard will enable the two NK department stores in Sweden to accept leading Chinese mobile payment methods. The integration has taken place also thanks to a cooperation between Wirecard and Cimple Marketing, Nordic-based marketing and payment specialist in the area of Chinese consumers.

A 2018 Nielsen and Alipay study found that, among Chinese tourists, department stores are one of the top shopping destinations, along with duty-free shops and large supermarkets. In addition, these three retailer categories are also those where mobile payment is used most frequently by Chinese tourists. Overall, the use of mobile payment for this target group is widespread: Last year, around 60% of Chinese tourists worldwide paid with their mobiles. This trend has led more and more merchants to adopt a Chinese mobile payment solution for their shops.

“Mobile payment is incredibly widespread in China, and, as China is one of the biggest travelling nations in the world, it is essential for merchants to adopt the technology that will give shoppers the freedom to pay with their preferred payment method,” said Fredrik Neumann, Vice President Sales Retail at Wirecard. “With NK as a customer, we are furthering our mission of enabling digital payments for all, and we are excited to join forces with Sweden’s most famous department store.”

The total transaction volume spent using Chinese payment methods and processed via the Wirecard platform has more than doubled in the last year. In department stores, Chinese guests averagely spend around 810 Euro per purchase. The highest single purchase with Chinese payment methods and processed by Wirecard was over 40,000 Euro. NK also expects to gain significant sales benefits from the latest integration.

About Wirecard:

Wirecard (GER: WDI) is one of the world’s fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics & conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us on Twitter @wirecard and on Facebook @wirecardgroup.

About Nordiska Kompaniet:

Nordiska Kompaniet was founded in 1902 by Josef Sachs and consists of two department stores, one in Stockholm and one in Gothenburg. The NK brand and the goods in Stockholm and Gothenburg were sold by the listed Hufvudstad AB. NK’s sales in 2018 totaled SEK 3 billion, with an inflow of around 9 million visitors per year and a total of around 1200 employees. Read more at www.nk.se and www.hufvudstaden.se.

Wirecard media contact:

Wirecard AG
Jana Tilz
Tel.: +49 (0) 89 4424 1363
Email: jana.tilz@wirecard.com

Related Links

http://www.wirecard.com

SOURCE Wirecard AG

Source Url

https://www.prnewswire.co.uk/news-releases/wirecard-enables-chinese-mobile-payment-methods-for-nk-sweden-s-most-iconic-department-store-836715957.html

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