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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Smartpay Holdings Limited    SPY   NZDMBE0001S2

SMARTPAY HOLDINGS LIMITED

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Smartpay : Why mobile payments are an integral part of Chinese consumer culture

04/22/2018 | 06:47pm EST

436,000 Chinese tourists visited New Zealand in the 12-months to February - more than any country bar Australia. Chinese are also our primary source of international students and one of our largest migrant groups. Yet whilst they are very important, Chinese consumers remain largely misunderstood by many New Zealand businesses, who stand to benefit by better servicing their needs. Making just a few simple tweaks to align with how Chinese prefer to purchase products is an easy way to grow both sales and advocacy.

For anyone who has visited China since 2016, the prevalence of mobile payments is likely to have stunned them. Chinese consumers now spend 90 times more on their smartphones than Americans according to Forrester Research. Everything from restaurants, to clothes, to hotels, to borrowing a bike is paid for with the simple scan of a QR code in a payment app - a different process than contactless payments at home. A year ago, mobile payments accounted for 45% of purchases in McDonalds' 2,400 China restaurants, and usage has soared since. There are vendors who no longer accept cash and cards anymore and even beggars have a personal QR code handy for passers-by.

As recently as 2010, China was predominantly a cash-based society. It was not uncommon for Chinese to stow stacks of red bills under the mattress as they had little trust or patience for the banking system. Credit card companies worked hard to change this by providing countless incentives to lure consumers onto plastic, yet just 15-20% have ever signed up. The majority of consumers leapfrogged credit cards to go straight to the much more convenient and widely accepted mobile payment apps.

Disclaimer

Smartpay Holdings Ltd. published this content on 23 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 April 2018 22:46:05 UTC


© Publicnow 2018
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Financials
Sales 2021 34,4 M 24,2 M 24,2 M
Net income 2021 -8,90 M -6,25 M -6,25 M
Net cash 2021 3,60 M 2,53 M 2,53 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 155 M 109 M 109 M
EV / Sales 2021 4,40x
EV / Sales 2022 2,80x
Nbr of Employees 177
Free-Float 95,7%
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Managers
NameTitle
Martyn Richard Pomeroy Chief Executive Officer, COO & Executive Director
Gregor John Barclay Non-Executive Chairman
Aidan Murphy Chief Financial Officer
Matthew George Turnbull Independent Non-Executive Director
Carlos Gil Non-Executive Director
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