#Wechat china wechat pay full#
Safety and security: WeChat Pay provides full transaction insurance 24/7.Leverage the potential of over 1 billion WeChat users.Upon the completion of a transaction, users have the option of following the brand’s official WeChat account or submitting a post-purchase survey. From brand awareness through WeChat social sharing, user segmentation, to customer service through invoicing and personalized service etc. The merchant gets involved in each step of the customer lifecycle.
#Wechat china wechat pay code#
The phone-scannable QR code lowers the setup barrier for merchants- no need for hardware like a card or chip readers.Chinese customers can easily adapt their domestic lifestyle overseas.WeChat Cross-Border Payment Mechanism Why WeChat Pay for Cross-border Commerce? If you are a foreign brand looking at entering the China market or targeting Chinese customers overseas, WeChat Pay is definitely a payment gateway you want to focus on. WeChat Pay has been available to overseas vendors since early 2016. WeChat Pay will then remit the amount in the foreign currency to the receiving bank account of the merchant in settlement. WeChat Pay cross-border service allows customers to use Chinese currency to pay for goods or services sold by overseas merchants (both online and offline).
Optimized for the WeChat ecosystem, WeChat Pay provides a seamless user experience for both O2O business scenarios and cross-border commerce. WeChat Pay is a payment feature integrated into the WeChat app that allows users to complete transactions directly through their smartphones. In this article, we’ll be discussing the most commonly asked questions of WeChat Pay for cross-border payment. As announced by the Central Bank in January, China will encourage companies to increase their use of Yuan for settling cross-border trade deals and to support foreigners’ use of the currency for direct investment in the country.Īlipay and WeChat Pay are the most popular payment methods for cross-border commerce transaction for Chinese. Meanwhile, as part of the construction of “One Belt, One Road “, the Chinese government has been providing policy and investment support to further facilitate cross-border e-commerce and foreign trade. Chinese Cross-border E-commerce Transaction For 2018, the overall transaction scale is expected to reach 9 trillion RMB($1.55 trillion). According to iiMedia’s recent report, Chinese cross-border e-commerce transactions reached 6.7 trillion RMB in 2016, and increased significantly to 7.6 trillion RMB($1.22 trillion) in 2017.
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