WeChat, China’s first ranked chat app, has long been a forerunner of mobile messaging which now starts to focus on the global payment by revolutionize the eWallet. WeChat is now up to 679 million active users worldwide each month, having added close to 200 million to that figure over the past year.
After running successfully into to the chinese payment market, Tencent which is the company behind WeChat, starts to cross the Atlantic by serving the same services like in China to U.K users as well as in the U.S. and Canada.
WeChat payment offers a lot of extremely convenient functions, including for foreigners in China: Order taxi, money transfer to other WeChat accounts, movie/train ticket booking, charity donations and more. Needless to say integrating your bank card to WeChat can simplify your life.
To register your Credit Card you need to enter the “My Bank Cards” panel. The process is very straightforward: simply select “Cards” on top-left corner and then “add a card”. You will be prompted to enter your card details and then you’re done. WePay is also stoking the fire by dropping fees for peer-to-peer transactions, a move aimed at making WeChat the standard for moving money between friends. To use Wepay as a foreigner simply download the application WeChat on your mobile device and follow the “register your credit card Steps.
The Company doesn’t anticipate WeChat Pay becoming a profitable business because of subsidizing merchants and other costs. But, the real value, Tencent argued is that WeChatPay “will benefit our overall ecosystem,” such as empowering future advertisements with one-click purchasing from users, and synergies with financial services.