It was March 5th 2014 that WeChat Payment was born. Based on the WeChat platform, Tencent hopes WeChat Payment to add more support for business around the very platform, therefore to improve conversion rates. After almost two years, number shows that WeChat Payment is a great online payment platform: On November 2015, Tencent pulled in a net profit of 7.584 billion RMB ($1.2 billion) on revenue of 26.594 billion RMB ($4.2 billion), and WeChat Payment is a huge part of that.
If you live in China currently, it’s not difficult to find places that allow WeChat Payment both online and offline. Here are five major places that WeChat Payment is widely accepted:
1. Supermarkets/Grocery stores
“WeChat Payment Accepted” Sign on supermarkets counters in China
Grocery shopping without your wallet? Not a dream any more in China, just remember to grab your phone. A lot of supermarkets have teamed up with WeChat Payment to offer customers another payment options offline. The tie-up will allow shoppers to make their purchases using WeChat Payment, Tencent’s online payment app, at some stores in China. Stores hope that letting customers buy items using WeChat Payment will encourage them to visit more often.
Convenience retailers including FamilyMart, Kedi and Alldays even offer discount for shoppers using WeChat Payment.
2. eCommerce websites
JD.com Payment Option
You can also use WeChat Payment on eCommerce websites. For example, when you shop in JD.com, a QR code will be generated on the upper right corner when you select your purchase option. Simply Scan the code, and confirm on your phone, your purchase will be completed.
3. WeChat shops
Walch Wechat Shop Payment
Both WeChat Shop and WeChat Payment are very important elements of WeChat eCommerce. In WeChat shops, the system will select WeChat Payment as a priority payment option for customer.
4. 3rd-party apps
DiDi Taxi WeChat Payment
A lot of O2O service applications have enabled WeChat Payment. You can use this payment to order your train ticket, food delivery, and taxi services.
Didi Taxi, a taxi app also allows customers to pay via WeChat Payment. This will save both customers and drivers time to complete the purchase.
5. Vending machines
A shopper using WeChat Payment Vending Machine in China
Remember when you have to look over the couch to find those coins before you use the vending machine? Instead you can just take your phone with you. After you select the stuff you want to buy, QR code will be generated on the screen for you to scan and pay.
Usually vending machines’ worst enemy is a snack getting stuck but no refunds. Now, money will refund to your WeChat Payment account automatically if that ever happens.
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