The red envelope feature significantly increased the adoption of WeChat Pay. The feature was launched through a promotion during China Central Television (CCTV)'s heavily watched New Year's Gala, where viewers were instructed to shake their phones during the broadcast for a chance to win sponsored cash prizes from red envelopes. When sent to groups, the money is distributed equally, or in random shares ("Lucky Money"). The feature allows users to send money to contacts and groups as gifts. In 2014, for Chinese New Year, WeChat introduced a feature for distributing virtual red envelopes, modelled after the Chinese tradition of exchanging packets of money among friends and family members during holidays. WeChat Pay can be used for digital payments, as well as payments from participating vendors. Users who link their credit card can only make payments to vendors, and cannot use this to top up WeChat balances.
Wechat ecny wechat pay 800m verification#
For non-Chinese users of WeChat Pay, an additional identity verification process of providing a photo of a valid ID as well as oneself is required before certain functions of WeChat Pay become available. Users can acquire a balance by linking their WeChat account to their debit cards, or by receiving money from other users. The settlement time depends on the payment method chosen by the customer.Īll WeChat users have their own WeChat Payment accounts. Īlthough users receive immediate notification of the transaction, the WeChat Pay system is not an instant payment instrument, because the funds transfer between counterparts is not immediate.
Wechat ecny wechat pay 800m code#
Now, WeChat Pay has six different payment products: Quick Payment, QR Code Payment, Mini Program Payment, Official Account Payment, In-APP Payment, and Web Payment. WeChat Pay ( 微信支付) is a digital wallet service incorporated into WeChat, which allows users to perform mobile payments and send money between contacts. Users can link their Chinese bank accounts, as well as Visa, MasterCard and JCB. Vetted third parties, known as "official accounts", offer these services by developing lightweight "apps within the app". Users who have provided bank account information may use the app to pay bills, order goods and services, transfer money to other users, and pay in stores if the stores have a WeChat payment option. WeChat Pay reached 900 million users in 2021.
0 kommentar(er)
