Published on : Wednesday, July 11, 2018
WeChat Pay, a payment service integrated into Tencent’s giant social media app WeChat, said it wanted to prioritise outbound Chinese tourists rather than overseas residents in foreign markets due to the huge popularity of the service at home.
In addition, WeChat Pay currently has local digital wallets in Hong Kong and Malaysia. In mainland China.
We Chat have millions of users so that they can make WeChat Pay into a successful payments tool. Grace Yin, director of WeChat Pay’s international operations said that WeChat Pay’s functionality stems from its popularity in China. They don’t have many WeChat users in overseas countries so we should accept that it will be hard to develop payment tools for them.
Tencent’s WeChat Pay and Alibaba’s Alipay account for over 90 per cent of China’s domestic mobile payments market.