WeChat Pay ( 微信支付) is a digital wallet service incorporated into WeChat, which allows users to perform mobile payments and send money between contacts. Users can link their Chinese bank accounts, as well as Visa, MasterCard and JCB. Vetted third parties, known as "official accounts", offer these services by developing lightweight "apps within the app". Users who have provided bank account information may use the app to pay bills, order goods and services, transfer money to other users, and pay in stores if the stores have a WeChat payment option. WeChat Pay reached 900 million users in 2021. Other competitors, Baidu Wallet and Sina Weibo, also launched similar features. The success prompted Alibaba to launch its own version of virtual red envelopes in its competing Laiwang service. Alibaba company founder Jack Ma considered the red envelope feature to be a " Pearl Harbor moment", as it began to erode Alipay's historic dominance in the online payments industry in China, especially in peer-to-peer money transfer. WeChat Pay's main competitor in China and the market leader in online payments is Alibaba Group's Alipay. As of March 2016, WeChat Pay had over 300 million users. WeChat Pay ( Chinese: 微信支付 pinyin: Wēixìn Zhīfù) is a mobile payment and digital wallet service by WeChat based in China that allows users to make mobile payments and online transactions. Mobile payment service in China WeChat Pay
0 kommentar(er)
