OPERATIONS

Neiman Marcus aims new mobile payment option at Chinese tourists

BY Dan Berthiaume

Neiman Marcus is adopting the world’s leading digital payment platform, with an eye toward Chinese consumers.

Neiman Marcus Group is now accepting Chinese mobile payment solution Alipay at select Neiman Marcus, Bergdorf Goodman, and Neiman Marcus Last Call store locations throughout the U.S. Alipay is currently available at 43 Neiman Marcus, 24 Neiman Marcus Last Call, and two Bergdorf Goodman stores across the country. The retailer is in the process of working to launch Alipay as an online payment option later this year.

Alipay users avoid higher foreign credit card transaction fees. In addition, the geo-location-based “discover” function and push notifications within the Alipay app help users find retailers nearby and receive promotional information.

According to data from Nielsen, more than two-thirds of Chinese tourists said they used their smartphones to pay abroad in 2018. There are more than 4 million Chinese travelers who are in the U.S at any given time. Together with its venture partners, Alipay serves a base of 1 billion global users.

“Neiman Marcus is known for offering unsurpassed service and developing better ways for our customers to shop,” said David Goubert, executive VP, stores and retail experience, Neiman Marcus Group. “This partnership with Alipay gives our customers a convenient way to pay through channels they already use.”

“This is exactly the kind of strategic partnership that will greatly benefit Chinese consumers – expats, tourists, and students — who come to the U.S. to sightsee, explore, and shop,” said Yulei Wang, GM, Alipay North America. “In the very competitive retail landscape, the convenience, familiarity, and security advantages of Alipay give Chinese shoppers a distinct reason to visit Neiman Marcus stores and, soon, online.”

Other U.S. retailers are recognizing the large potential market offered by Chinese visitors, and the convenience and familiarity Alipay offers them. In February, Walgreens became the largest U.S. drugstore retailer to accept Alipay. As of April, Walgreens was accepting Alipay payments at more than 7,000 Walgreens locations across the U.S.

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