WeChat Pay has officially implemented mutual recognition and mutual scanning of offline QR codes with UnionPay’s Flash app. Users can scan WeChat payment codes through the UnionPay Flash payment app in provincial capitals across the country to complete payment.
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In the past, consumers may need to open a mobile app, or a small program, which takes about four or five steps to complete payment. But now, consumers only need to open the WeChat “scan” function and scan the product QR code price tag, and the products can be automatically added to the shopping cart […]
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WeChat is going to launch a new feature “Gifts upon payment” for WeChat Pay to get the small and medium merchants further engaged in January 2019. They can exchange those points with increased limits for balance withdrawal or VIP membership of Tencent Video, etc.
WeChat drove information consumption of 209.7 billion yuan in 2017, equivalent to 4.7% of China’s total information consumption over the same period. The average annual growth from 2014 onwards surpassed 30%, 12.8 percentage points higher than that of China’s information consumption. In 2017, China’s digital economy totaled 27.2 trillion yuan, an increase of 20.3% year-on-year, […]
WeChat Pay held a WeChat Pay Overseas Open Conference in Tokyo on July 3, 2017, launching an open platform of WeChat Pay for overseas merchants.
Tencent and Starbucks announced strategic cooperation in Guangzhou today; and from today on, WeChat Pay is available in about 2,500 Starbucks stores in China.
The number of offline retail stores integrated with WeChat Payment has exceeded 300,000 according to data released in during a WeChat Payment partner conference.
WeChat Payment has recently updated its fund transfer policy. Fund transfers or face-to-face payment using WeChat Payment is still free if the total monthly transfer is no more than 20,000 yuan (US$3,143.1). The excess part would take 0.1% transaction fee. However, WeChat red envelope is still free of charges.
Tencent QQ’s monthly active users exceeded 829 million and MAUs on smart device exceeded 521 million according to Tencent’s finance report of first half of 2014. Tencent QQ was the first Chinese instant messenger in Guinness World Record for having the most number of simultaneous online users on an instant messaging platform on 3rd July, 2014. […]
These days the smoke of the war between Alibaba and Tencent was very thick. Wechat payment was regarded as the last key element to O2O. In fact, from the insiders’ perspective, Alipay has always been the rich handsome guy. Nowadays, Alipay could not stay calm anymore, which illustrated that WeChat payment came with full preparation.
Last week Tencent announced that its own comprehensive online shopping site Yixun.com started fully support of Wechat payment on desktop client, Android and iOS mobile devices. Meanwhile, someone inside Yixun disclosed that Yixun would soon launch product ordering in Wechat under a single payment. By then, Wechat 5.0 users can simply click on any one […]
WeChat is testing a paywall feature for Official Account. Qualified WeChat subscription official accounts can activate this feature and hide the full or partial content.
The increase in Tencent’s revenues in Fintech in 2018 was driven by its take-rate on commercial transactions collected from merchants, cash withdrawal fees and credit card repayment charges collected from users, and the service fees from financial institutions for the distribution of FinTech products such as WeiLiDai and the wealth management products on our LiCaiTong […]
The total transactions of third-party mobile payment reached 40.36451 trillion yuan (US$6.08 Tn) in Q1 2018, up by 6.99% over Q4 2017 and dominated by Alibaba affiliated Alipay (54%) and Tencent Finance. Alipay continued to lead this market with a share of 53.76%, followed by Tencent Finance (38.96%), they combined accounted for 92.71% of the […]