UK watch retailers are set to benefit from a new agreement between two companies to roll out UnionPay payment solutions across the country.
Retail software firm, Anagram Systems, announced an agreement with Global Payments to help UK retailers support the card processing system.
The agreement will enable watch retailers to accept payments using UnionPay, helping them engage with the increasing number of high-spending Chinese tourists who are visiting the UK.
Anagram will be integrating Global Payments’ solutions with Encore, the software developer’s business management system for SMB retailers. Integration will enable retailers to process payments made by Chinese customers using Encore’s Electronic Point of Sale (EPoS) functionality.
Commenting on the partnership, Andrew Morgan, managing director of Anagram Systems, said: “Our retail customers – particularly those who sell luxury items such as watches and jewellery – have reported an upsurge in the amount of sales to Chinese customers. By enabling retailers to process UnionPay card payments, we’re helping them develop and service a new and potentially highly valuable customer-base.”
“The recent fall in the value of the pound against the Yuan has made it much more affordable for Chinese tourists to visit Britain. This, combined with the easing of the visa system and an increase in the number of direct flights between the UK and China has made Britain a highly popular shopping destination for wealthy travellers who are keen to buy British goods.”