Become an Alipay merchant?
It started in late 2016 when a few entrepreneurs were discussing the worries of the economy and what posed as a bottle neck to future industry development. In relation to Singapore’s Prime Minister’s address on making Singapore a Smart Country, these entrepreneurs felt this was a rare opportunity to successfully contribute to the country.
In order for a country to develop, enterprise needs to improve but this requires financial support and the introduction of new technology. China’s rapid development can be attributed to the support in financial and technological innovation. So if Singapore is to further develop, it would require technology such as that of CC PAY to drive the change in Singapore’s technology savvy financial service.
Once such a goal was set, the four entrepreneurs decided to commence this project. What would enable local merchants to improve their productivity and earning capabilities via the use of technology? Currently, Singaporean immigrant policy has restricted immigrant spending power, as such, the company will target tourism as a 10% increase in tourism sales could increase 30% of merchant revenue. How do we achieve such a goal? By having a faster and convenient payment method.
As technology innovation is not a one day success, it would take time for CC PAY to be fully incorporated and accepted by Singaporean merchants. However, such an opportunity to harness new technology should not be put off for to long in order to reap its full benefits. In order to allow the merchants to be more open to this new technology, we will provide free services so that they can get a sample of how things work before they fully subscribe to it.
As of the first two weeks of operation, we have already liaised with more than 100 merchants. At this rate, by the end of the year we are projected to help 3000 merchants improve their sales using our technology.