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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 Pay, officially referred to as Weixin Pay (微信支付) in China, is a digital wallet service incorporated into Weixin, which allows users to perform mobile payments and send money between contacts. [55]
With more than 1.2 billion users, its built-in payment service WeChat Pay is one of the mainstream payment options in China. WeChat Pay Courts European Retailers to Connect With Chinese Shoppers ...
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.
Qzone has become one of the largest social networking services in China, with a user base of 645 million in 2014. [31] [155] On 10 April 2010, Tencent launched Tencent Weibo, a microblogging service. [156] WeChat is a mobile app with functions such as voice- and text messaging, mobile payment, and a friends-only social network called Moments. [157]
It continues to be China's largest online payment service as of at least 2023. [6]: 150 WeChat Pay remains a strong competitor to Alipay, with 37% of the Chinese mobile payment market as of 2016. [6]: 151 By June 2020, there were 805 million users of mobile payment in China. [40]: 202
WeChat is the dominant social media and messaging app in China, and is also the most popular messaging application for most Chinese nationals staying overseas. Though subject to state rules which saw individual posts removed, [ 133 ] [ 134 ] Tech in Asia reported in 2013 that certain "restricted words" had been blocked on WeChat globally. [ 135 ]