Paymentwall has partnered with Tencent to bring WeChat Pay (Weixin Pay) to every online and retail store. The partnership allows every business owner around the world to get instant access to 600 million Chinese shoppers in China and abroad.
“As a pioneer in mobile payments, the WeChat team is glad to work with Paymentwall, who has already connected with over 150 payment methods globally,” said the Vice President of Tencent. “No doubt it will be a win-win partnership to provide much more fashionable and flexible payment option for users. Also more opportunities will be explored with teamwork.”
With over 600 million active users, WeChat Pay is now one of the most popular payment methods in the world. WeChat Pay processed over $1.5 trillion in Chinese digital payments, representing over 30% of all online transactions made in 2016.
“We are excited to start working with Tencent and bring WeChat Pay to online stores in Europe, US, Latin America, Southeast Asia and the Middle East,” said Honor Gunday, CEO of Paymentwall. “Every entrepreneur now has the opportunity to enter the $5.5 trillion Chinese mobile market.”
Integration with WeChat Pay provides a quick and easy payment experience with minimal steps. To complete a purchase, the customer opens the WeChat application, scans a QR code placed in the store or clicks on the WeChat Pay link in their mobile device, then uses the previously attached card to make a payment, similar to Apple Pay.
There’s no need to establish a local entity in China to start accepting WeChat payments. With a single API integration, every business owner has access to over 150 payment methods worldwide, including Alipay, Unionpay, and WeChat Pay.