Solution Portfolio - Page 147



Part 1
Part 2
Leading the world in mobile payments:
Alipay and WeChat Pay
Part 3
Part 4
WeChat Pay
WeChat Pay, operated by Tencent Holdings, was
e-coupon etc. Unlike Alipay, WeChat operates as both
launched in 2013, almost 10 years after Alipay.
a payment platform and an instant messaging service.
WeChat Pay combined ofine payments with online
It also differs from Tencent’s TenPay, which operates
payments and designed its own special technology
in the same way as Alipay. WeChat Pay can be used to
to secure account safety: the only thing users need to
pay in stores, on websites, WeChat shops and
do is tethering a bank card with the WeChat app to
third-party apps, and its payment procedure is easier
complete the certication, that’s it. Once the
and simpler for both customers and businesses alike.
keywords are entered in the phone, the payment is
done. WeChat Pay also uses QR code technology to
WeChat brought a real revolution in the way sellers and
provide ‘scan payment’, meaning users can pay by
buyers interact. Dependency on its social media and
simply scanning the QR Code using their own mobile
instant messenger service continues to bring vast
phone.
amounts of new potential users.
Moreover,
customers
can
also
enjoy
services like WeChat red envelope, voucher,
Preparing your business to welcome Chinese shoppers.
A guide to understand and get started with Chinese payment methods.
26

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