Tencent launched a digital bank card on WeChat called WeBank Card via WeBank, China’s first private commercial bank established. One of its major shareholders is Tencent.
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.
Chinese consumers spent US$5.5 trillion via mobile payment platforms in 2016, about 50 times more than their American counterparts. By the end of 2016, Tencent alone saw its active mobile payment accounts exceed 600 million users per month.
Starbucks’ updated WeChat app encourages users to share smaller gift cards in WeChat group chats, instead of just one-on-one. Does the thought of gifting Starbucks in a group chat scare you? No need to worry, because there’s a new series of small 3 and 4 yuan coupons out. Remember the beginning of 2017, when everyone […]
‘Retail is retail, there is no old and new’. In today’s Fast Moving Consumer Goods(FMCG) retail industry, the consumer demand, groups, channels, and patterns are all changing, but WeChat Pay team believes that the essence of FMCG retail industry has not changed. The factors affecting business flow are still people, service, and channels; what is needed […]
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.
WeChat membership cards are becoming increasingly popular in China among retailers and other businesses. Today, let’s take a look at how Burger King benefited from adopting this strategy in their China stores. WeChat membership cards features Coupons and membership cards are placed together on WeChat under “Card & Offers. This is what a membership card […]
The rapid growth of social networks and e-commerce platforms has transformed the way people communicate and transact around the world. Integrating digital payments into these growing networks and platforms has presented vast opportunities to drive economic opportunity, financial inclusion, transparency, security, and growth. In practically all countries individuals, businesses, and policymakers are recognizing these opportunities […]
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 National Day holiday in China is the last holiday of the year and the longest one with 7 days starting on 1 October. China Railway is about to receive 110 million person trips during this year’s National Day holiday, an increase of 11.3% compared with 2015.
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.