The transactions of online payment in China totaled exceeded US$3 billion in 2017, with a decrease of 0.5% from 2016. China’s mobile payment had 562 million users in 2017, up by 21.6% over 2016. It is estimated to reach 650 billion users by the end of 2018. The transactions of online payment totaled 20.751 billion yuan […]
WeChat and Alipay payments are making smartphones obsolete
When you are still astonished by the unique experiences brought by mobile payment in China, WeChat and Alipay have already started to lead a new payment innovation out of smartphones. Highways contactless payment Alipay launched “license plate payment”. As long as the Zhima Credit is more than 550 points, users can directly bind their car […]
[REPORT] WeChat digital ecosystem 2018: WeChat Pay, Official Accounts, Mini-Programs
WeChat drove information consumption of 209.7 billion yuan in 2017, equivalent to 4.7% of China’s total information consumption over the same period. The average annual growth from 2014 onwards surpassed 30%, 12.8 percentage points higher than that of China’s information consumption. In 2017, China’s digital economy totaled 27.2 trillion yuan, an increase of 20.3% year-on-year, […]
China online payment market overview Q2 2017
Internet and mobile payment services have spread like wildfire in China over the last two years, filling the gap which existed in the formerly cash-dominant society for the safe and secure transfer of money and electronic payments. China has only a very limited credit and debit card infrastructure, offering an opening for mobile payments unseen […]
REPORT China Digital Payment Study 2017
Digital or electronic payments have become the go-to method for many consumers in China to pay for purchases and transactions, online or offline. Coming into the digital age with only a limited credit and debit card infrastructure outside major cities, China leapfrogged straight to mobile payments from cash, pushing the trend further than is seen […]
Tencent launched a digital bank card on WeChat
Tencent launched a digital bank card on WeChat called WeBank Card via WeBank, China’s first private commercial bank established. One of its major shareholders is Tencent.
REPORT Mobile Payment Usage in China 2017
Chinese consumers spent US$5.5 trillion via mobile payment platforms in 2016, about 50 times more than their American counterparts. By the end of 2016, Tencent alone saw its active mobile payment accounts exceed 600 million users per month.
Starbucks promoting group sharing WeChat Gift Cards
Starbucks’ updated WeChat app encourages users to share smaller gift cards in WeChat group chats, instead of just one-on-one. Does the thought of gifting Starbucks in a group chat scare you? No need to worry, because there’s a new series of small 3 and 4 yuan coupons out. Remember the beginning of 2017, when everyone […]
WeChat transforming retail with self-checkout, product identification, big data
‘Retail is retail, there is no old and new’. In today’s Fast Moving Consumer Goods(FMCG) retail industry, the consumer demand, groups, channels, and patterns are all changing, but WeChat Pay team believes that the essence of FMCG retail industry has not changed. The factors affecting business flow are still people, service, and channels; what is needed […]
WeChat Pay launched open platform for overseas merchants
WeChat Pay held a WeChat Pay Overseas Open Conference in Tokyo on July 3, 2017, launching an open platform of WeChat Pay for overseas merchants.
WeChat membership card guide; Burger King case study
WeChat membership cards are becoming increasingly popular in China among retailers and other businesses. Today, let’s take a look at how Burger King benefited from adopting this strategy in their China stores. WeChat membership cards features Coupons and membership cards are placed together on WeChat under “Card & Offers. This is what a membership card […]
The growth of digital payment ecosystems in China: what it means for other countries
The rapid growth of social networks and e-commerce platforms has transformed the way people communicate and transact around the world. Integrating digital payments into these growing networks and platforms has presented vast opportunities to drive economic opportunity, financial inclusion, transparency, security, and growth. In practically all countries individuals, businesses, and policymakers are recognizing these opportunities […]
Starbucks starts accepting WeChat Pay
Tencent and Starbucks announced strategic cooperation in Guangzhou today; and from today on, WeChat Pay is available in about 2,500 Starbucks stores in China.
The peak travel season in 2016 is coming
The National Day holiday in China is the last holiday of the year and the longest one with 7 days starting on 1 October. China Railway is about to receive 110 million person trips during this year’s National Day holiday, an increase of 11.3% compared with 2015.
WeChat Pay reached over 300K retail stores
The number of offline retail stores integrated with WeChat Payment has exceeded 300,000 according to data released in during a WeChat Payment partner conference.