![]() In-App Payment - it is used for third-party app payments. For example, this is the way you could purchase goods at JD.com. In-App Web-based Payment - this option is best for making payments for goods and services on a commercial WeChat account. QR-Code Payment - a user scans the seller’s QR code, enters the required amount of money, and confirms payment with their password. Quick Pay - a user scans his/her unique QR code, after which the system charges the required amount. If the registration process is successful, WeChat will charge your bank card with a small amount of money, and then recredit the funds. You can register a wallet account only if you have a Chinese bank card, or if you are in China at the moment when you try to implement this. The “Wallet” button will not disappear if a user switches languages back. A user will have to change the language to Chinese in the app settings in order to enable the “Wallet” tab. ![]() It happens if a user downloads the international version of the app. However, the «Wallet» tab may not be displayed in the app menu. So, what do you need to become a WeChat Pay user? You’ll need a WeChat account, ID, and a bank card with a linked mobile number. ![]() An interesting fact is that 90% of smartphones in China come with the WeChat app pre-installed which makes it even more convenient to use this payment service. Since WeChat Pay is integrated into the WeChat multi-featured app, the payment service is compatible with any smartphone. With its help, users can send money to their friends, pay for goods and services online, top up mobile accounts, pay bills, call and pay for a cab, buy tickets, book hotels, and much more. A user can access it through the “Wallet” tab in the messenger app. WeChat Pay is a payment solution integrated into the popular Chinese WeChat messenger, owned by Tencent. Today we’ll try to find out what WeChat Pay is and how it works. They use it to pay whenever and wherever they want because it is a widely accepted payment system (from taxis and subways to markets and hospitals). Nonetheless, WeChat Pay has become part of everyday life for the Chinese. Less than 20% of WeChat Pay transactions exceeded the amount of RMB 1000 (roughly $150). However, WeChat Pay transaction volumes are not so impressive. Alipay by Alibaba, which is their main competitor, by comparison, had only 450M clients in the same year. Tencent stated that the number of active WeChat Pay (mobile payments) users increased to more than 600M in 2017. Spot a business opportunity or investment scam? Tell the FTC at does WeChat Pay work. If you need help making investment decisions while avoiding fraud, visit.
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