Category

WeChat Pay

WeChat Pay starts supporting cards issued outside China

WeChat Pay has started allowing cards issued outside of China to be loaded into their platform, opening up access to international customers. The option will be available to expatriates living in China, as well as in “Greater China”, to residents from Hong Kong, Macau, and Taiwan, and will apply to cards issued by JCB, Mastercard and…

Malaysia’s Wallet Wars Rages On: WeChat Pay Secures First Banking Partner

Following Tencent’s recent success in securing E-Money license from Bank Negara Malaysia, the company’s payments arm WeChat Pay has received the green light from Bank Negara Malaysia to partner up with Hong Leong Bank. Similar to Alipay’s game plan, WeChat Pay will also be initially focused on Chinese tourists visiting Malaysia to gain traction and…

China targets mobile payments oligopoly with clearing mandate

China’s central bank has ordered online payment groups to operate through a centralized clearing house, a move likely to undercut the dominance of Ant Financial and Tencent by forcing them to share valuable transaction data with competitors.   China is the world leader in mobile payments, with transaction volumes rising…

Tencent opens its credit rating system

Tencent has opened its credit scoring system to limited group users on QQ, WeChat’s older sibling.   This marks a big step forward for Tencent:  not only does this fill in a glaring gap in their product lineup, it also puts them in direct competition with Alibaba’s Sesame Credit.   According…