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WeChat Pay, officially referred to as Weixin Pay (Chinese: 微信支付; pinyin: Wēixìn Zhīfù) in China, is a mobile payment and digital wallet service by WeChat based in China that allows users to make mobile payments and online transactions. As of March 2016, WeChat Pay had over 300 million users. [1]
[1]: 130 China's wide adoption of mobile payments without significant credit card usage is an example of leapfrogging development. [1]: 130 The increase of mobile payment systems such as Alipay and WeChat Pay have facilitated the rapid rise of e-commerce in China. [2]
WeChat or Weixin in Chinese (Chinese: 微信; pinyin: Wēixìn (listen ⓘ); lit. 'micro-message') [a] is a Chinese instant messaging, social media, and mobile payment app developed by Tencent.
QR code payment has helped mobile payment become the most popular method of payments in China, accounting for 83% of all payments as of 2018. [8] Nearly all shops, street vendors, most metro systems, buses, and taxis in Mainland China accept either WeChat Pay, Alipay, or Cloud QuickPass for payment. [9]
Company Platform Location 2C2P: Online, POS, mobile: Singapore: Adyen: Online, POS, mobile: Global, headquarters in the Netherlands: Alipay: Online, POS, mobile ...
WeChat red envelope (or WeChat red packet) is a mobile application developed by the Chinese technology company Tencent. The concept, also offered by its market competitors Alibaba and Baidu , is based on the Chinese tradition of hongbao (red envelope, or red packet), where money is given to family and friends as a gift.
' Cloud QuickPass ') is a mobile and online payment service, developed and operated by UnionPay, the national Chinese bank card clearing service. Launched in 2017, [ 1 ] it was designed to compete with the existing third-party Chinese mobile payment platforms, Alibaba Group 's Alipay and Tencent 's WeChat Pay .
Digital renminbi (Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY), [1] or Digital Currency Electronic Payment (DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù), is a central bank digital currency issued by China's central bank, the People's Bank of China. [2]