QR payments are currently only available to our Smartpay Long Term Rental customers on our S920 payment terminal. To sign up, click here.
There is no sign up cost for QR payments and no term commitment. You’ll pay a low Merchant Service Fee for each transaction. We settle you the full transaction value in NZ dollars and simply bill you for the Merchant Service Fee at the end of each month. If you don’t have any transactions in the month, there is nothing to pay.
We’ll settle you two business days after the transaction. Business days are impacted by both New Zealand and Chinese public holidays.
Alipay and WeChat manage the currency conversion in their app. The currency conversion is locked in at the time of the transaction. Your customer is shown the New Zealand dollar amount, the conversion rate and the total Chinese RMB dollar value that they will be charged at the time of payment. Smartpay settles you the full New Zealand dollar amount of the transaction so the currency conversion rate will not affect how much you will get settled.
You can perform a refund for a QR transaction up to the value of the original transaction within 90 days for WeChat Pay or up to one year for Alipay. The customer will need to show you their original transaction receipt for you to get the refund code. You can view the user guides for Alipay & WeChat Pay payments for steps on how to process a refund. You can refund any amount up to the original transaction.
Watch this short video showing how to process a refund in standalone mode.
We will provide you with signage for inside and outside your store. It’s important that these are displayed, not only in the shop but where Chinese customers can see when walking past as Alipay and WeChat have strong brand awareness. Chinese feel pride in seeing this brand and feel more welcome to enter stores accepting these payment methods.
Yes, Smartpay QR payments can be integrated into your Point of Sale (POS). This would mean you don’t need to enter the purchase amount into the terminal, thereby reducing errors and making end-of-day reconciliation easy. Smartpay partners with the world’s best POS providers and we’re constantly working to add new integration for card and QR payments. If your POS vendor does not support QR payments, let us know by sending an e-mail to info@smartpay.co.nz with your business name and which POS you use, and we’ll get in touch with your POS vendor to discuss integrating with Smartpay for QR payments.
A dynamic QR code, which Smartpay’s solution uses, conveys the merchant information and the purchase amount. This means your customer just needs to accept the transaction in their app. This means you, as the merchant, are in control of the amount, and the payment experience is quick. A static code, however, just tells Alipay or WeChat Pay your merchant information, and your customer then needs to enter the purchase amount. The merchant needs to carefully check if the amount is correct. In China, purchase limits have been introduced on static codes and there have been instances where merchant’s static codes have been replaced by ones linking to fraudsters accounts.
Read the AliPay & WeChat Pay Merchant T&C's here.
