Tag "WeChat"
WeChat Broaden Digital Yuan Acceptance, Accelerating CBDC Adoption
China-based messenger app WeChat has announced that it has expanded digital yuan payments to its short video and mini-app platforms. This update is an extension of the e-CNY payments option that WeChat has already supported since early 2022. The move
Read More
WeChat’s Mini Programs Exceeded 800 Billion RMB Total Transaction Value
Tencent’s WeChat team today celebrated WeChat Mini Programs’ 3rd Anniversary by revealing that total transaction value generated on Mini Programs has exceeded 800 billion RMB in 2019, an increase of 160% year-on-year and a clear demonstration of the platform’s tremendous
Read More
How Tencent is Trying to Fill China’s US$805 B Insurance Gap Using Social Media
Over the past years, China’s Internet giant Tencent has been expanding its strategic positioning in the insurance industry. The Chinese firm’s latest move has been to lead Xiaobang Guihua’s RMB 200 million (US$28.4 million) Series B equity funding round in
Read More
How China’s Virtual Banks Are Offering Loans to Micro-Businesses Within Minutes
In China, online lenders are filling the credit gap, leveraging cutting edge technology including artificial intelligence (AI) to make lending decision in just a second. E-commerce giant Alibaba’s MyBank and Internet conglomerate Tencent’s WeBank, have dramatically changed the domestic financial
Read More
LINE Pay Begins Integrating WeChat Pay
LINE Pay Corporation, operator of the LINE Pay mobile money transfer and payment service available on the LINE messaging app, announced recently that its merchants have been integrating WeChat Pay since early August. Once system integration is complete, WeChat Pay
Read More
WeChat Pay Will Start Terminating Accounts Caught Dealing with Crypto
WeChat Pay, one of China’s most popular e-wallet providers, has just updated its payment policy to ban cryptocurrency transactions. The move was first noticed by founding partner of crypto investment firm Primitive, Dovey Wan in a tweet. Urgh, Wechat just
Read More
China E-Commerce Industry Enters “New Retail” Era
The Chinese retail industry is entering a “new retail” era, characterized by the widespread use of technologies such as artificial intelligence (AI) and big data to digitalize the entire value chain, according to PwC. China is the world’s biggest consumer
Read More
A New Record-Breaking Year for WeChat Red Packets
Tencent said they wouldn’t participate in the “Red packets” (红包 / Hongbao) war this year. …well, they won it anyway! Key highlights: 14.2 billion red packets sent in 24 hours, 76% year over year growth! 760,000 were sent in 1 second Guangdong is the province which
Read More