Message from Managing Director
It is no secret that China has become one of the fastest countries to ditch cash in favour of alternative payments. This gave rise to Alipay, a subsidiary of Alibaba Group, of which it has over 400 millions users and over US500 billions of transacted volume, thus becoming the world’s largest mobile payment provider.
As Singapore’s leading Alipay partner and payment provider, Genesis Payment Solutions (GPS) is born to bridge Singapore merchants and Chinese consumers, where the latter prefers their familiar purchasing habit of paying in Renminbi (RMB) via their existing Alipay wallets.
With Singapore being seventh on the top destinations list among Chinese tourists, who also contribute to the nation’s largest single tourist source market, GPS hopes to equip Singapore merchants with the essential tools to reach out to Chinese spenders.
To add to this good news, GPS has developed our platform to integrate seamlessly into existing in-store retail Point-of-Sale workflows. Hence, businesses operation is as per usual, where by both selling and receiving payment in Singapore Dollars (SGD).