The Digital RMB app, which is China’s CBDC, has recently launched an express payment feature on WeChat Pay. The app is currently in a pilot phase and enables users to pay using their digital currency wallet, including the Alipay digital currency wallet. Users need to register with the same phone number associated with their WeChat […]
WeChat Pay - News & Insights
WeChat Pay is a payment feature integrated into the WeChat app, users can complete payment quickly with smartphones. WeChat has Quick Pay, QR Code Payments, In-App Web-Based Payments, and Native In-App Payments.
Combined with WeChat official accounts, WeChat Pay service explores and optimizes o2o consumption experience, provides professional internet solutions for physical business. It is the best choice of mobile payments.
More and more Chinese people choose to travel abroad. When a buyer purchases a product from an overseas vendor, this spot exchange rate will be used to convert the foreign currency into CNY. The converted CNY amount will then be deducted from the buyer's account when the buyer comfirms the deal in WeChat Pay. As soon as the buyer finishes the payment, he will follow the overseas vendor’s official account. They can still make purchases through this account after they go back to China.
China’s mobile payment market overview 2023: Alipay vs. WeChat Pay
QR code payment is still the most commonly used payment method for mobile payment users in China according to China Payment & Clearing Association’s research. “Which payment do you use more in daily life?” According to recent research conducted by the China Payment & Clearing Association, QR code payment remains the most frequently used payment […]
WeChat Users & Platform Statistics 2023
In 2022, the total views of the original content on WeChat Channel (video account) increased by 350% year on year, and the scale of live broadcast increased by 300%, according to WeChat’s data released on 10 January 2023.
UnionPay integrates with Alipay and WeChat Pay
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.
S&P Global: Bank disruptors doubling down on mobile payments in China
Users of most payment platforms reported high engagement for mobile payments (around 90% considering the margin of error), with Du Xiaoman Pay users being a notable exception (80%). WeChat Pay users appeared to be evenly distributed across all ages, but QQ Wallet users skewed younger. A pair of big technology firms has further consolidated its […]
Chinese cities issuing billions worth of e-coupons to stimulate consumption
Wuhan city government announced last Friday that it has officially launched “Wuhan Purchase 2020 consumption promotion campaign” with WeChat Pay and other platforms, which will issue 500 million yuan (US$70.73 million) of shopping vouchers.
E-commerce transactions on WeChat mini-programs grew by 27 times
The number of e-commerce transactions on WeChat mini-programs increased by 27 times year-on-year in the first half of 2019, according to an official Tencent report.
China’s top mobile payment apps compared: Alipay, Tenpay, Unionpay
The competition pattern of “duopoly” is still solid, while the competitiveness of UnionPay, a state-owned player, is improving. The penetration rates of Tenpay, inclusive of WeChat Pay and Mobile QQ Wallet, and Alipay are 89.2% and 69.5% respectively, with the number of estimated users reaching 940 million and 740 million respectively, according to an Ipsos […]
WeChat testing new traffic driver for retailers
WeChat is testing a new traffic entrance, using payment pages to drive fans from their offline stores according to eBrun News.
WeChat total daily payment transactions exceeded 1 billion in 2018
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 […]
WeChat Pay to provide incentives to merchants in Jan 2019
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.
China mobile payment usage in Q3 2018; Tenpay (Tencent) the highest penetration
92% of mobile internet users in China used mobile payment in Q3 2018, a little decline compared with 92.4% in May, according to the report from Ipsos. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay were 84.3% and 63.6% respectively. Around 24% of Tenpay users never used Alipay while only 3.5% […]
China third-party mobile payment report H1 2018; Tenpay leads, followed by Alipay
92.4% of mobile internet users in China used mobile payment. The penetration rates of Tenpay (WeChat Pay + QQ Wallet) and Alipay are 85.4% and 68.7% respectively. In personal transactions, mobile payment was most frequently used in phone top-up (69%), money transfer (63%), and red envelope sending (60%). Check out more usage scenarios below. The […]
Carrefour’s retail transformation with WeChat Mini-Programs
On August 8 this year, Carrefour’s WeChat user penetration grew by 28% from a year ago. Over 55% of Carrefour customers in South China used WeChat Pay. Much effort had been put on integrating WeChat Pay and smart retail together to make customers into the habit of shopping with WeChat Mini-Programs in Carrefour supermarkets. Collaborated […]
China’s mobile payment to reach 650 million users in 2018
The transactions of online payment in China totaled exceeded US$3 billion in 2017, with a decrease of 0.5% from 2016. China’s mobile payment had 562 million users in 2017, up by 21.6% over 2016. It is estimated to reach 650 billion users by the end of 2018. The transactions of online payment totaled 20.751 billion yuan […]