Another way to cash in on Chinese outbound

With an estimated 100 million Chinese people travelling internationally, there are many opportunities for business to service this segment, beyond selling flights and hotels.

These businesses can be specifically set up for the Chinese market or can adapt an existing platform or model.

One area of interest is how brands outside China can accept payments from Chinese providers such as Alipay or WeChat and Baidu wallets. But despite all the talk around alternative payment methods, cash is still widely used by Chinese travellers overseas.

TravelersBox realises that a lot of Chinese travellers still have currency left over after their holiday has ended, and is looking at ways to capture this. By installing its digital kiosks at overseas airports used by Chinese travellers, it facilitates the conversion and transfer of cash into a traveller’s digital wallet or into a gift card from a selection of partners.

Its CEO Tomer Zussman explained the theory and practice of digital currency conversion to China Travel News. Click here to read the article in full.

Related reading from Tnooz:
TravelersBox raises $10 million for post-trip currency swapping (Jan16)

This article appears here as part of Tnooz’s content partnership with China Travel News.
NB2: Image by BigStock

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