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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]
In the same year, Tencent introduced "WeChat Pay HK", a payment service for users in Hong Kong. Transactions are carried out with the Hong Kong dollar . [ 61 ] In 2019 it was reported that Chinese users can use WeChat Pay in 25 countries outside China , including, Italy , South Africa and the UK .
Faster Payment System (FPS; Chinese: 快速支付系統, more commonly known as 轉數快) is a real-time gross settlement [1] payment system in Hong Kong that connects traditional banks and electronic payment and digital wallet operators. [2]
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]
Individuals can choose Alipay, WeChat, provincial government service clients or mini programs to declare personal data and receive health codes. Whether they are mainland residents, Hong Kong and Macao residents, Taiwan residents and foreigners, they can complete real-name authentication. [8]
Shenzhen Tong Company is promoting Hu Tong Xing at the unpaid area of Shenzhen University Station, Shenzhen Metro.The top one in the shelf is Hu Tong Xing Trade Edition Card (deep-blue) which is scheduled to sell only in Shenzhen and the bottom one is Hu Tong Xing Trade Edition Card (orange-yellow) which is scheduled to sell only in Hong Kong.
Transfers within Wechat Pay and Alipay are free within their respective ecosystems, and generally have a 0.1% fee for transfers outside their ecosystem, much lower than the 2–4% fee imposed by credit cards. [34] Wechat Pay and Alipay each have over a billion users in China, [35] [36] and are used by over 90% of the population in China's ...
Electronic Payment Services (simplified Chinese: 易办事; traditional Chinese: 易辦事; pinyin: Yì bànshì), commonly known as EPS, is an electronic payment system based in Hong Kong, Macau, and with limited acceptance in Shenzhen since it began operations in 1985.