China Payments

Tencent Rolls Out Weixin Pay Enhancements for International Visitors in China

Tencent has announced comprehensive enhancements to its payment platform, Weixin Pay, aimed at improving the experience for visitors to mainland China.

These initiatives simplify registering for WeChat and linking international credit cards, ensuring convenience and security.

Upon downloading or updating to the latest version of the WeChat app, overseas users can now easily register for a WeChat account with a non-Chinese mobile number and link their international credit cards to Weixin Pay.

This simplified process offers users access to millions of merchants across China, catering extensively to small and medium-sized businesses and street vendors.

Further facilitating ease of use, Weixin Pay has increased transaction limits for verified international users. Upon completing a swift identity verification process, users can now transact up to US$5,000 (HK$39,172) per transaction and up to US$50,000 (HK$391,723) annually.

Recognising the diverse needs of international visitors, Weixin Pay has also expanded its interoperability with other global payment systems.

In collaboration with Tenpay Payment Technology Co., Ltd., NetsUnion Clearing Corporation, and China Construction Bank (Malaysia), the service has partnered with Payments Network Malaysia (PayNet) to enable Cross-Border QR payment interoperability.

Users of local wallets within the PayNet system will soon be able to seamlessly make payments in mainland China by scanning a Weixin Pay QR code.

For Hong Kong residents, WeChat Pay HK, the first overseas digital wallet service in mainland China, now supports transactions in Hong Kong dollars, automatically converted from RMB for settlement.

This service has seen an extension in transaction limits, with single transactions now capped at HK$38,000 and annual transactions at HK$400,000 for verified users.

The uptake of these enhanced services has already shown a significant impact. Since the full opening of the merchant network in July 2023, there has been more than a threefold increase in the average daily transaction volume and a fourfold increase in daily transactions through Weixin Pay’s international card service, according to the company.

These transactions predominantly occur in sectors such as online lifestyle services, shopping, dining, and tourism, where the average daily transaction amounts to approximately RMB100.

To support these developments, Tencent has launched a dedicated webpage titled “Welcome to China, easy pay with Weixin Pay.”

This resource offers detailed guidance for overseas users, featuring a brand video, user guides, tutorials, and other pertinent information to enrich the visitor experience in China.

Featured image credit: Edited from Freepik