FICANEX confirms partnership with Motion Pay Technology to propose Alipay and WeChat Pay to its financial institution Members in Canada
The 175+ Canadian financial institution members of FICANEX can now offer Alipay and WeChat Pay acquiring solutions to their business and commercial clients. FICANEX has announced a privileged distribution partnership agreement with Canadian fintech Motion Pay Technology Inc. to distribute its secure and convenient mobile payment processing services across Canada.
Motion Pay services provides Chinese travelers with direct access to their Alipay and WeChat Pay accounts to make payments in China RMB currency. The company’s fully integrated service converts the China RMB to Canadian dollars for Canadian businesses. The convenience and ease of payment with this service is a tremendous customer-service tool for any businesses who market to Chinese travelers, students and immigrants.
“MotionPay empowers businesses to connect with Chinese consumers,” says Eric Paquet, Motion Pay’s President & Chief Operating Officer. “More and more businesses with Chinese clients are offering our mobile payment service. In fact, to offer Chinese consumers their preferred payment method is a significant incentive to their purchase behavior. Mobile payments is the standard for payments in China, with Alipay and WeChat Pay holding 94% of the market share.”
“China is an increasingly important consumer market for Canadian businesses” observes Andrew Obee, President & CEO of the FICANEX Group of Companies. “Chinese business, tourism and cross-border payments are on the rise. As we move forward this is a trend that will continue to increase. We want our member financial institutions to be able to offer their business and commercial clients all the necessary tools to seize this growing opportunity.”
Canada has over 2 million Chinese immigrants, welcomes more than 750,000 Chinese tourists annually, and after the United States, Canada receives the largest number of students from China with nearly 200,000. In 2018, the trend is expected to continue to swing upwards as we celebrate Canada-China Tourism Year.
About Motion Pay
Motion Pay Technology Inc – www.motionpay.ca – is the company that introduced WeChat Pay and Alipay to Canada, the largest mobile payment platforms in China. It gives Canadian businesses convenient payment services designed to attract greater sales opportunities from the hundreds of thousands of Chinese who travel and live in Canada.
About the FICANEX Group of Companies
FICANEX Services Limited Partnership owns and operates THE EXCHANGEÒ surcharge-free ATM Network in Canada. Since the formation of FICANEX Services Limited Partnership over 17 years ago, THE EXCHANGE Network has grown from a B.C. regional based network to a network that spans coast to coast to coast. With 170 financial institutions participating in THE EXCHANGE Network, providing their over 3,700 ATMs nationally, THE EXCHANGE Network saves 5.5 million Canadian EXCHANGE cardholders millions of dollars each year in needless surcharges.
FICANEX Technology Limited Partnership was formed in July 2017 to create tunl.Ô, The technical pathway between the fintech world of services and solutions and tier-2 financial institutions. Utilizing the connectivity that has been developed between THE EXCHANGE Network and member financial institutions, tunl.Ô will provide new and innovative solutions to member financial institutions in an efficient, collaborative way.
For more information please visit:
Eric Paquet, President and COO
Motion Pay Technology Inc.
Andrew Obee, President & CEO
FICANEX Group of Companies