It is the most popular social network and mobile application among Chinese clients. It is capable of sending and receiving instant messages and allows you to find shops and payment services, apart from many other things. Such is WeChat Pay, an innovative application developed by the Chinese multinational Tencent, as the result of a project at the Guangzhou Research Centre in October 2010.
Ten years have passed since that event, and the platform already has more than 1.1 million registered accounts and 1 billion active users per month.
Bring Chinese consumers closer to your e-Commerce and don't fall behind!
Why is WeChat changing the world of e-Commerce?
Some users consider it as the most pioneering and versatile application and describe it as "China's app for everything." And it is not for less, especially, taking into account its number of functionalities offered: from payments and social networks to shopping services and more. In other words, all those services we perform through multiple applications from Google Play or App Store, Chinese consumers do using WeChat Pay. Therefore, they save time, space and money.
Users can complete payments quickly with their smartphones and, in fact, this application already has 200 million registered cards, and a proportion of online shoppers doubled in 2016.
Why include it in your payment methods with PayXpert?
With WeChat Pay, you can get many advantages, but if you integrate it with the PayXpert payment gateway, you will experience:
- Simple integration with no upfront costs.
- Obtaining reports on transactions in real-time.
- Helping your Chinese customers avoid paying bank fees or carrying cash.
- Settlement in local currencies.
- Chinese clients' payment with a method they know and trust 100%.
- The acceptance of WeChat and, therefore, greater ease for your consumers when paying.
WeChat Pay provides you with numerous options to collect your payments and, and when these are accepted, the user and the shop receive an instant confirmation. PayXpert can integrate this solution into its own IT tool so that devices can be used in the same way as for standard payment card solutions.
Currently, PayXpert has several offices in Europe (France, Spain and the United Kingdom) and Asia, in order to cover most of the territory where it operates and, thus, offer the best payment methods in each of these places. In Europe, for example, it is one of the few official partners of WeChat Pay and Alipay, the preferred methods of Chinese clients. PayXpert fintech has also become the first European company capable of processing payments with the Russian Mir system, an initiative that opens a wide variety of customers in e-Commerce. We will talk about it in future posts, so don't forget to follow us every week on our blog.
Do you have questions about any of these methods? If so, we can help you.
How does WeChat help minimize the effects of coronavirus on your business?
In view of the situation we are presently suffering, it is unthinkable not to mention the well-known crisis of COVID-19 in this post. Thousands of companies around the world are undergoing great changes due to the circumstances and, although these are not good times for its growth, it is said there is always a light at the end of the tunnel.
Much of the world economy is paralyzed, affecting everyone: you and your competitors too. However, this historical moment of significant social impact has a decisive part for e-Commerce, since your business can be much more competitive and face this new stage successfully via payment gateways.
We are convinced many companies are losing customers not only due to this situation but also because they do not facilitate the commonly used payment methods. One of the keys to e-Commerce internationalization is to offer payment modes adapted to the consumption needs of each country and, consequently, empathize with clients.
The Chinese population was the first to go through the coronavirus crisis, but also the first to come out of it, as well as gradually get back to normal life. Providing the payment methods used by your Chinese shoppers, such as WeChat Pay or Alipay, will help you recover your economy and get closer to potential customers, expanding the boundaries of your business.
From this crisis, we are learning that companies whose structure is digital are the readiest ones to take on the situation and with the most resources to keep its production. Nevertheless, brands are not the only ones benefiting from this technology because WeChat also offers messaging and calls, easily connecting relatives and friends in all countries. In addition, it also allows sharing photos and games, helping communication with our families and friends during the coronavirus crisis.
Voice chats, group chats, moments, photo galleries, video calls and much more. Don't let the crisis affect your e-business and share your best times!
A final consideration about WeChat Pay
It is probably the application most used by Chinese users. This instant messaging platform enables businesses to increase their visibility and to be where China's customers need them. When you enter it, you will first find conversation lists, official pages of brands, among other things.
M-payments in China have become effortless thanks to these types of applications, and almost all shops include them within its payment methods regardless of size. Your e-business can also integrate WeChat with PayXpert at this time, facilitating the conversion of your potential clients and considerably boosting sales.
Are you ready to live an authentic revolution in your e-Commerce? Are these systems too modern for you? Don't worry; we are here to answer all your queries and help you climb to the next level.
"The secret of change is to focus all your energy, not on fighting the old, but on building the new." –Socrates.