Aiming the Chinese market is one of your dreams? That's why we are here. Entering the Chinese market is the dream of many eCommerces all over the world, but achieving it is a complex task if you don't know the right tools. That's our goal today. We want to tell you about the most revolutionary payment method in China and its advantages for your online store: WeChat!
Are you up for it?
12 reasons that make WeChat the perfect way to enter the Chinese market
Entering the Chinese market is the dream of many eCommerces, but how many make it a reality? Why is WeChat a perfect way?
First of all, WeChat is China’s most popular social network and mobile application. In fact, it is known as the application for everything. And no wonder, since it covers everything from instant messaging and shopping to bill payment services and taxi requests, among other things.
In short, these are some of the reasons why thousands of eCommerce are using WeChat in order to tap into the Chinese market:
- It is the most popular social network and mobile app among Chinese users.
- It has multiple features, from payments to social networks.
- It's equivalent to many apps on Google Play or the App Store, but in a single one.
- More than 1 billion users are active on WeChat every month.
- It has more than 1 million registered accounts.
- Users spend an average of 66 minutes per day on this App.
- It has WeChat Pay, a built-in payment feature for users to quickly make payments with their smartphones.
- The proportion of online shoppers on the app doubled in 2016.
- Its integration is easy, there is no upfront cost, transaction reports can be generated in real time, Chinese customers avoid paying bank fees or carrying cash.
- Settlement of payments in merchants’ local currencies.
- It enables Chinese customers to pay with a payment method they know and trust.
- By accepting WeChat, you make the payment process and tasks easier for your Chinese customers.
In short, WeChat Pay is one of the most used payment methods for Chinese users. If an eCommerce is present in the app, it not only increases its visibility, but also the possibility of receiving purchases from these consumers, increasing trust and conversion in your business.
Features on how WeChat Pay works in eCommerce
It's not just any app. With PayXpert, as a specialised partner, WeChat Pay can be the marketing boost you need to organise your Chinese communication into the official WeChat account. And better yet, you will enjoy the benefits it brings to your business marketing:
- Geo Marketing. It makes commerce visible to Chinese shoppers wherever they are, geo targeting your community and offers, creating subscriber categories based on location, etc. Adapt your marketing strategy to WeChat!
- ‘Red envelope' functionality. It is a very popular and deep-rooted tradition in Chinese culture where people donate money to their relatives, friends or employees. Chinese users have long been able to do so easily through WeChat. Tencent has developed this feature as a marketing task whereby the eCommerce can reward customers who spend large volumes of money in their stores, with cash refunds and red envelopes.
- Banners. In-app advertising appears in the timeline between updates. WeChat Ads appears as a combination of text, video, photo, and links to interact with.
- Official accounts. These are used by brands that want followers to proactively engage with them. They are programmed in such a way that they can respond to followers’ questions.
But do not think that these are the only features of its functioning, it also has other remarkable elements:
- Online web. Users can read the QR code on your payment page and confirm it immediately. Easy and convenient! They only have to select the product they want to purchase, the code will appear in the payment methods and the user will read it to confirm the payment with a password. Once accepted, the eCommerce and the user receive a confirmation message.
- Online mobile app. Users can shop directly in their official account or access their eCommerce via the WeChat Pay app. The user sees the product, clicks on it and hit the pay button. They confirm the payment with the password, and it is processed.
- In-Store sticker. App users can scan the QR sticker in the store and confirm the payment instantly. Both the consumer and the seller will receive the confirmation almost immediately.
- In-Store POS. The cashier enters the appropriate amount in the local currency and the WeChat Pay user scans and confirms it. The customer receives the confirmation, and the POS device prints the receipt.
- In-Store cashier. PayXpert can integrate WeChat Pay into your own IT solution so that devices can be used in the same way as regular payment card solutions.
Tell us what you would like to do with WeChat Pay, we are the experts in Europe!
Conclusions about WeChat and the Chinese market
We're here to help you. Our account managers will help you through the whole process of integrating digital payment solutions that will allow you to offer the best experience to your Chinese customers. WeChat and its features are the way for your online store to enter the Chinese market.
This app created in 2011 by Tencent Group has become an unstoppable trend. And since 2018 it has been one of the main mobile payment methods. Did you know that it accounts for 35% of mobile traffic in China? This was confirmed by the WeChat Economic and Social Impact Report in 2017, figures that are growing every year.
We are waiting for you!