![]() They claim that each transaction stage is secured in real time.Īlso, WeChat complies with the Payment Card Industry Data Security Standard (PCI-DSS), a set of security standards ensuring companies accept, process, store, and transmit credit card information in a secure environment. Tencent claims to have invested a lot of effort into building state-of-the-art fraud control and security systems. Overall, it is safe to use, and the system is reliable and user-friendly. WeChat Pay functions similarly to other QR-based mobile payment services. To do so, you sign up for this feature, enter the necessary customs information in the WeChat Pay Merchant Platform and perform coding following the WeChat Customs Clearance APIs documentation. Hence, customs clearance will be significantly faster. All payment information for the relevant goods is submitted to customs via an API. Customs Clearanceīy activating the Auto Clearance feature, merchants submit customs information on the WeChat Pay Merchant platform. Merchants gain access to this feature upon signing up with WeChat Pay. Web Payment is for merchants with web stores that target Chinese consumers. After successful verification, the payment completes. Order details are in a unique QR code on the web page. Web Payment is a feature to allow users to scan a unique QR code on the website to make a payment. ![]() Several services are available: Quick Pay With WeChat official accounts, the payments feature optimizes the online to offline (o2o) experience, thus enhancing more professional internet solutions for physical businesses. The ecosystem is comprehensive enough to cater to the various payment scenarios needed by consumers. WeChat Pay is for in-app purchases, eCommerce, in-store shopping, leisure (dining, movie, karaoke, and more), travel, and lifestyle purposes (doctor appointments, utility bill payment, gas station payment, traffic tickets payment, and others). How to Use WeChat Pay and its Key Features Unsupported currencies will be via the USD. Any settlement with vendors will be in the local currency. WeChat Pay supports currencies including but not limited to USD, GBP, HKD, MYR, JPY, CAD, AUD, EUR, NZD, and KRW. If you register outside of these countries, the Pay feature will only appear if you activate the WeChat Pay or Weixin Pay features. That said, only users registered in China, Hong Kong, and Malaysia automatically see the Pay feature. WeChat Pay AvailabilityĪside from China, WeChat Pay is available in the US, the UK, Australia, Hong Kong, South Africa, Japan, Canada, and other countries. Then you make payments via the static barcode in the stores. The settlement time depends on the payment method used by the user.įor non-Chinese users, you use your Visa, Mastercard, or JCB credit card through WeChat Pay in WeChat Wallet's merchants. The transaction notification is immediate, but the actual transaction isn’t. Once done, the WeChat user can initiate transactions and pay bills, make peer-to-peer money transfers, and pay for items online as long as the merchants accept WeChat Pay. Each will input their payment information into the WeChat app, thus linking to their Chinese bank accounts (over 300 supported) and overseas credit cards, including Visa, MasterCard, and JCB. WeChat users automatically have their WeChat Payment accounts. Hence, many Chinese tourists prefer to use mobile payments during their travels, and if you offer WeChat Pay, chances are, they will spend more. You’d want to travel light and not carry cash for security purposes. Merchants can ride on WeChat for targeted marketing campaigns to reach consumers. This increases the number of return customers. Also, when a user purchases via the service they automatically follow the merchant’s WeChat account. Merchants offer WeChat Pay to attract more customers, enhance the user buying experience, increase credibility, boost brand awareness, and reduce shopping cart abandonment. Although the number of Chinese tourists has dropped significantly due to the pandemic, this number will soar soon, especially with China relaxing its restriction rules. Meanwhile, China is one of the major driving forces in the global outbound tourism industry. ![]() Aside from convenience, the many security measures incorporated into such cashless payment methods have encouraged their adoption. Due to the steep growth trajectory of cashless payments worldwide, many are migrating towards non-cash payment modes. ![]() Gone are times when we needed more cash in our wallets.
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