TaxFree4U, leading UK-based operator of tax refunds service from purchases made by non-European Union citizens within the EU, has signed an agreement with YeePay, a leading payments service provider in China
FOR IMMEDIATE RELEASE
London, GB – 2017. TaxFree4U, leading UK-based operator of tax refunds service from purchases made by non-European Union citizens within the EU, has signed an agreement with YeePay, a leading payments service provider in China, to promote services within Asia’s largest market with one of the highest numbers of high-net worth individuals (HNWI).
“Our online service is available for non-EU residents from all over the world,” says Merton Smith, TaxFree4U CEO.
“Our objective is not only the optimization of the refund process, but also the implementation of innovations. For example, our users can consolidate several receipts into a single declaration, as we are able to overcome the minimum receipt amount, specified for each separate country.
This joint venture would provide the opportunity for Chinese travelers to EU to get speedy and straightforward VAT returns on all their spending through TaxFree4U.”
Merton believes that this association is perfectly aligned with company’s mission to drive high-rated growth through sales performance improvement.
“Our application has transformed tax free shopping from a paper-based process to an automated mobile solution, ensuring enhanced efficiency and ease-to-use for our customers,” - adds Merton Smith. - “We can now offer our Chinese customers this unique advantage through our tie-up with YeePay, one of the largest country’s payments service provider. The combination between our two companies will provide a level of service and quality of product that would be simply unbeatable.”
Using TaxFree4U is simple and speedy with only four steps to complete:
1. Take a picture of your receipts and upload it in the application.
2. Get declaration on e-mail and print it.
3. Visit the customs office at the airport before leaving the EU, stamp the declaration and send documents to TaxFree4U office.
4. Get VAT refund on your card.
Benefits of the App:
1. No form-filling means less chance of missed claims due to incorrectly completed form. Travelers only have to take a photo of their receipts and upload them. We consolidate the receipts and generate a VAT form for them.
2. Maximize holiday time and waste no more time queuing every time you purchase an item.
3. No need for bringing a passport along for shopping or missing a claim because traveler did not have passport.
4. Tax-free shopping at all retailers that charge VAT. No need to handle multiple forms from multiple VAT Refund Operators.
5. Ease of use encourages claims for lesser value items that travelers would not usually bother to claim.
Founded in 2003, YeePay provides online and offline integrated payment solutions enabling consumers to make and receive payments via the internet, mobile devices. The company focuses on a variety of sectors, including airlines and travels, asset management, digital entertainment, education, fast moving consumer goods, insurance and telecom. YeePay cooperate with more than 100 commercial banks in China. Company was the first business with a nationwide payment license from the People’s Bank of China.
YeePay founder Chen You said: “We are extremely pleased about our partnership with TaxFree4U. We share a common focus, which is to create maximum value for our customers with minimal or no inconvenience for them.”
To see more information, visit our web-site taxfree4u.eu or download our App in GooglePlay and AppStore.
Tax Free 4U Limited
Vitaliy Rozentsvaig, Head of Marketing and PR
Oracle House 8-12, Welbeck way, London
W1G 9YL, United Kingdom
Notes to editors
Established in 2015 and headquartered in London with five other offices across the EU, TaxFree4U is the only company to provide the maximum percentage of tax refund in Bank4U card at 19 per cent and within 48 hours of customer filing all necessary documents. It has also simplified the European VAT Refund process into a Mobile App, which saves time for non-EU travelers in getting their VAT Refunds by eliminating queues and form filling besides giving the best rates of refunds on the market.
Founded in 2003, headquartered in Beijing, with 31 regional offices across China. Licensed by the China Banking Regulatory Commission to conduct mutual fund-related transactions, and by the State Administration of Foreign Exchange for cross-border transactions. The Company has over 93,000 active merchant customers and operates in more than 20 provinces. In 2014, YeePay processed $77 billion of transactions, up over 100 per cent from 2013.