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Retail Technology

VR Payment GmbH

Saonestr. 3a, 60528 Frankfurt am Main
Germany
Telephone +49 721 1209-0
Fax +49 721 12096808
haendlerservice@vr-payment.de

Hall map

EuroShop 2020 hall map (Hall 6): stand H27

Fairground map

EuroShop 2020 fairground map: Hall 6

Contact

Stefanie Wöge

Ansprechpartnerin Gesamtorganisation

Phone
0721-1209 6895

Email
stefanie.woege@vr-payment.de

Regina Bruschke

Ansprechpartnerin Presse

Phone
069-900 288813

Email
bruschke@bcc-ffm.de

Our range of products

Product categories

  • 07  Retail Technology
  • 07.01  Omnichannel/E-Commerce solutions
  • 07.01.03  Online shop systems/platforms

Online shop systems/platforms

  • 07  Retail Technology
  • 07.03  Payment systems
  • 07.03.01  Card terminals, EFT terminals

Card terminals, EFT terminals

  • 07  Retail Technology
  • 07.03  Payment systems
  • 07.03.02  Background operation, network operation, processing

Background operation, network operation, processing

  • 07  Retail Technology
  • 07.03  Payment systems
  • 07.03.03  Contactless payment systems, NFC solutions

Contactless payment systems, NFC solutions

  • 07  Retail Technology
  • 07.03  Payment systems
  • 07.03.04  Mobile payment solutions

Mobile payment solutions

  • 07  Retail Technology
  • 07.03  Payment systems
  • 07.03.05  Online payment solutions

Online payment solutions

Company news

Date

Topic

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Feb 19, 2020

VR Payment China Solution: Payment specialist opens the Chinese market to retailers with a comprehensive solution for Alipay and WeChat.

  •  VR Payment ensures a professional appearance for merchants on the most important Chinese payment and lifestyle platforms, Alipay and WeChat
  • Payment acceptance and extensive platform services as a part of the complete package
  • Great potential: A turnover of 12 billion euros from Chinese travellers in Germany predicted for 2020
VR Payment presents the ‘China Solution’ at the EuroShop 2020: An all-round service package with which retailers can gain access to the Chinese market and profit from the increasing spending by tourists from Asia. In addition to the on- and offline payment acceptance of Alipay and WeChat Pay, the payment specialist of the
Volksbanken Raiffeisenbanken Cooperative Financial Network provides retailers with a professional appearance on the two most important Chinese lifestyle platforms. This includes profile creation, building and designing your own e-commerce store within the WeChat ecosystem, translation services for smooth chat communication with Chinese customers, design and implementation of relevant marketing strategies as well as cross-border logistics for easy shipping of goods to Asia.

“In China, digital payment and ecosystems play a much more important role than they do in this country. With the central platforms Alipay and WeChat, even small retailers can bring Chinese tourists to their businesses and build up a large customer base in Asia - so long as they know how to make use of the platforms for themselves. This is exactly what we help with”, says Carlos Gómez-Sáez, CEO of VR Payment. In addition to the payment function, Alipay and WeChat display all the services provided in western countries by Google, WhatsApp, TripAdvisor, travel and information portals or e-commerce platforms and therefore have a huge influence on purchasing decisions.

A unique, all-round service offer

“Without any presence in Alipay and WeChat, not only retailers but also hotel and restaurant owners have a hard time keeping Chinese customers. The differences between the European and Chinese payment processes are simply too big and the usage of digital offers is too high”, confirms Marco van Eersel, expert on China and founder of the VR Payment service partner, WeRetail. “The offer of on- and offline payment acceptance along with platform services with Alipay and WeChat as a comprehensive package is unparalleled in Germany”, says van Eersel, commenting on the new China Solution.

With an authentic profile and the relevant payment acceptance, German companies can gain visibility on these Chinese platforms, which is the basic prerequisite for guiding Chinese travellers into their businesses using the info, storefinder and geolocation functions on Alipay and WeChat. The marketing options on these platforms can also be used for this purpose. As a result of digital networking with Chinese travellers and their personal recommendations via the social media and rating options on Alipay and WeChat, the range covered on the platforms and the WeChat e-commerce traffic grow significantly.

High turnover potential

Presence on the Alipay and WeChat platforms is definitely worthwhile: Alipay holds a 54 percent market share in the 16 trillion US dollars Chinese mobile payment segment, WeChat Pay holds around 40 percent. User numbers speak for themselves: Alipay has more than 520 million active users, WeChat over 900 million.

In addition to this: Tourism from the Asia-Pacific region is rapidly growing. 3.4 million Chinese tourists are expected in Germany during 2020, which represents 40 percent more than in 2017. The spending power of Chinese travellers is also noteworthy here: A turnover of 12 billion euros from Chinese travellers in Germany is predicted for 2020. China has the highest tourism expenditure rate worldwide - the China Solution offered by VR Payment offers merchants the chance to benefit from this.

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Feb 17, 2020

Pay-As-You-Go: VR Payment and BMS Consulting bring fully automated payment to the point of sale with payfree

  • For the first time ever, payfree realises the vision of cash register free checkouts without camera surveillance and expensive sensor technology on the shelves
  • The payment process begins automatically upon passing the checkout area
  • Innovative process enables RFID goods recognition in open areas
VR Payment, the payment specialist of the Volksbanken Raiffeisenbanken Cooperative Financial Network, presents a world premiere at  EuroShop: ‘payfree’ is a payment method that is fully integrated into the purchasing process and does not require stationary checkouts. The shopper simply has to install an app on their smartphone in which they pre-authorise their shopping budget. When the customer leaves the shop, the RFID (Radio Frequency Identification) tags on the purchased goods are automatically scanned in an RFID zone set up in the shop, triggering the payment process once the customer passes through. Further involvement from the customer is no longer necessary. There are no more interruptions when paying or queuing at the checkout. The customer simply receives the receipt digitally through the app or via email.

“With payfree, the vision of the payment process as a background procedure while shopping becomes reality. We have achieved this for the proportion of retailers who are willing to tag their goods”, explained Carlos Gómez-Sáez, CEO of VR Payment, during the product presentation. He claims that payfree will at first appeal to chain stores with a higher value product range. “For these companies, the RFID tag is already widely used for logistics reasons. However, this process may also be of interest to companies with lower individual values due to rapidly declining costs for RFID tags.” Gómez-Sáez is convinced: “payfree is just the right building block for the future model of stationary trade.”

Two innovations responsible for the breakthrough

The payfree process is made possible by two technical innovations: On the one hand, a new recognition method allows RFID tags to be scanned in open areas. For the first time, it is now possible to scan and process product information from goods in the basket or shopping bag without having to use a manual interface. Until now, a reading area that was closed off after as many lines as possible had to be set up in order to detect products that were close together in a reliable manner. Thanks to the new Locate Tags and the patented recognition procedure of a VR Payment technology partner, bulky RFID interfaces and RFID tunnels can now be avoided.
In contrast to similar grab-and-go models, this procedure can be integrated into existing store concepts in a flexible manner and according to the individual requirements.

A further development lowers possible usage barriers for payfree. Up until now, RFID tags have been relatively expensive to produce and are only worthwhile for higher priced goods. Although the prices for the tags are expected to halve in the next three to four years, even then they would not be suitable for the masses in the actual sense.This will only be accomplished by means of a new process developed by the technology partner in which RFID technology can be printed using nanotechnology, making payfree appealing for practically any product range composition.
Innovation partnership between VR Payment and BMS Consulting intensified

payfree was developed by VR Payment along with the Düsseldorf-based BMS Consulting. This company is one of the leading software developers in the financial sector and has long been working closely with the Cooperative Financial Network.
As part of a long-term cooperation, the partners have combined the technological expertise of BMS with the payment expertise of VR Payment:
“With payfree, we have created a primary example for the development of next generation payment products. We are thus illustrating the direction in which this development is heading. We want to continue on this path together”, says Nino Raddao, the leading representative of BMS Consulting. “Our goal was to provide customers with an extremely fast and convenient checkout experience for retail shopping”, stresses co-developer Nils Bergmann.

In addition to the new and improved customer experience, payfree also offers retailers tangible efficiency gains and cost advantages: It allows both the checkout infrastructure and the number of checkout staff to be reduced. This saves valuable time that can be used for customer services and active selling. “We make sure that our customers' employees can focus on what really adds value in retail: Addressing the customers and their needs. Sensing what they need and desire. Offering them precisely that which makes them happy,” emphasizes VR Payment CEO Carlos Gómez-Sáez.

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