Launch of a new mobile application: IZIVAT, helping international travelers to get their VAT back within 24 hours

SHANGHAI,Dec. 19,2019 -- Launch of a new VAT refund mobile application: IZIVAT. The mobile application allows users to get their VAT refund back from any shop in France. Whether shopping online or offline,travelers will now have their refund back within 24 hourson their Wechat Wallet.

IZIVAT Company launches its new application IZIVAT

What is IZIVATsolution?

International travelers can nowclaim theirVAT from online and offline shops,andIZIVAT will consolidate the purchases to help meet the minimum 175 Euros thresholdrequired for VAT claims in France.This meansno more minimum purchase per store.

Using themobileapplication,travelers will only need to take a picture of purchase receipts and invoices (with IZIVAT details). The user willthenreceive a pre-filled tax refund form that only needs to be printed and validated at an automatic kiosk or by the customs officer when exiting the EU.After IZIVAT receivesthe picture of the signed form,it will process the payment to the customerwithin 24 hourson its payment mean of choice.Chinese travelers can be directly refunded on their Wechat wallet.

The process to use IZIVAT

Tax free shopping abroad always soundsfun until international shoppers realize that they have to take care of all those refund forms they have collected andgo through queues without missing the plane. On top of that,they must remember different details for each form: which operator gave it,whether they have collected cash alreadyor provided a card for the refund,andhow longthey will have to wait in another queue to get cash at the airport.

To assist international travelers in overcoming the difficulties mentioned above,IZIVAT mobile application was created in 2019. The company was launched by 3 French founders,who jointly spent nearly 20 years working in China. Influenced by China's digital revolution and its focus on flawless customer experience,theyhavejoined forces to put the traveler in the center of the tax refund shopping experience.According to the founder and CEO of IZIVAT,"We believe in doing things with respect,honesty and passion with the constant desire to empower and give back."The IZIVATteam combines 30 years of experience in finance,payment,and tax-free shopping. The company is headquartered inParis,France,butkeepsitskey operationsinChina,whichrepresents the largest group of international travelers visiting Europe every year.

In 2017,international tourism expenditures in Francewere about USD 50 Billion[1]. However,most of thisspending isdone out of tourist hotspots,where it is rare to find merchants offeringa VATrefund.With its solution,IZIVAT also aims to democratize VAT refunds to small merchantswhoare reluctant to provide this service to international tourists because of the paperwork it involves. By taking over merchants' requirements,IZIVATplans to increasetravelers'eligible refunds.

For more details,please visit: https://www.izivat.com

[1] The World Bank,World Tourism Organization,Yearbook of Tourism Statistics,Compendium of Tourism Statistics and data files. https://data.worldbank.org/indicator/ST.INT.XPND.CD?locations=FR

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