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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]
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.
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. [59]
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
According to the statistics of the fourth quarter of 2018, Alipay has a 55.32% share of the third-party payment market in mainland China, and it continues to grow. [4] [5] [6] Along with WeChat, Alipay has been described to be China's super-app with a wide range of functionalities including ridesharing, travel booking and medical appointments ...
With more than 1.2 billion users, its built-in payment service WeChat Pay is one of the mainstream payment options in China. ... Jeff Hu, EMEA regional director at WeChat Pay, said during a ...
Since 2021, WeChat users have been able to share links to products on Alibaba's e-commerce platforms, but not complete transactions with WeChat Pay. (Reporting by Casey Hall, Editing by Louise ...