![]() For unsupported currencies, transactions can be made in US dollar. WeChat is the world's largest mobile messaging and social media platform with more than 846 million users signed up through the end of 2016.Īs People's Daily notes, WeChat Pay and competitor Alipay already have presence in dozens of markets, including Japan, Finland, Singapore, Thailand, France, South Korea and India. by Lisa de Renzy-Martin WeChat is one of the most advanced apps on the market and if you are living in China you will need it. Cross-currency settlement is accepted Major currencies are included HKD, USD, GBP, JPY, CAD, AUD, EUR, NZD, KRW, THB, SGD, RUB, DKK, SEK, CHF and NOK.WeChat Pay settles each transaction with foreign vendors based on the price in local currency. As many as 300 million cards are believed to be attached to the service. Tech In Asia tested it out for a day in China and came away reasonably impressed. WeChat Pay is currently available in 15 countries and regions, covering payments in 12 different currencies. Payment is another area and over the past year, Tencent has put considerable focus into its China-based service, WeChatPay, which can be used to transfer money between WeChat users (peer-to-peer) and make payments online and with participating offline retailers. The commission ranges according to the merchant’s industry, but most average about 0.60. They certainly receive much warmer welcomes from foreign countries." However, merchants that accept payment from WeChat will pay a commission ranging from 0.10 to 1.00. Once they see this place can accept WeChat Pay, they can use their mobile phones. "Last year, over 100 million Chinese people traveled outside of China. That will no doubt be welcome news to Chinese toursits visiting the United States, said to number 3.1 million in 2014.Ĭhuck Huang, CEO of Citcon, welcomed the partnership, saying: You will be redirected to the related transaction platform to complete the payment. The service makes it easier for users to make payments in renminbi without actual cash on hand. Select WeChat Pay at the checkout page when you proceed with payment. While most of us use our phones built in messaging app, WeChat is a one-stop connection portal. WeChat Pay service is not only available to individuals but also foreign companies can sign up for an official account. Chinese: Wixìn /way-sshyin/ Micro Message Connecting Made Easy. Cross-currency settlement is accepted Major currencies are included HKD, USD, GBP, JPY, CAD, AUD, EUR, NZD, KRW, THB, SGD, RUB, DKK, SEK, CHF and NOK. The Tencent-owned company will partner with mobile payment firm Citcon to bring its services to the American market, China Daily reports. WeChat More Convenient for Foreign Travelers in China. ![]() WeChat is teaming up with a Silicon Valley startup to bring its payment system to the United States.
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