Only merchants that accept e-CNY will be taking payments in the central bank digital currency, according to WeChat’s announcement. Tencent’s WeChat Pay vice-general manager, Lei Maofeng, said Wednesday he hoped consumers will soon be able to use the mobile payment app in all scenarios. Today’s update is an expansion of the e-CNY payments option that WeChat already supports since early last year. Clearly, that sea of microtransactions are potential targets of the digital yuan. dollars) for using their copyright technology. TenPay, which runs WeChat Pay and Tencent’s smaller QQ Wallet, is China’s most popular mobile payment provider by users, with 838 million users dwarfing Alipay’s 432 million, according to. HANGZHOU, June 16 (Xinhua) - Chinas tech giant Tencent announced on Tuesday that its WeChat Pay will support American Express RMB credit cards, coming soon. The head-to-head rivalry between Tencent and Alibaba dates back to July, when Alibaba blocked application programming interface (API). In 2022, WeChat mini apps generated several trillion RMB ($1 = RMB6.9) of transaction value, according to Tencent. WeChat Pay used in a Chinese supermarket /VCG Photo A Beijing-based company on Monday filed a patent infringement lawsuit against WeChat Pay, one of Chinas biggest mobile payment platforms owned by Tencent, asking them to pay one million yuan (139,730 U.S. As of March 2016, WeChat Pay had over 300 million users. It comes with its own payments system, WeChat Pay supports millions of third-party lite apps, making it a rival to the App Store has a short video network that competes with Douyin, TikTok’s Chinese version, for eyeball time and has a host of other features that can easily be standalone apps - but Asia loves super apps. WeChat Pay (Chinese: pinyin: Wixìn Zhfù), officially referred to as Weixin Pay in China, is a mobile payment and digital wallet service by WeChat based in China that allows users to make mobile payments and online transactions. The bank has a designated app for e-CNY that crossed 261 million individual users in early 2022, but it’s also enlisting help from the private sector to take its official digital money to a broader user base.Ĭhina’s biggest messenger WeChat said Wednesday that it’s extended the use of e-CNY payments to transactions happening through its short video and mini-app platforms, which together cover merchants from small influencers to brands touting products on WeChat.įor those unfamiliar with WeChat, the Tencent-owned messenger is a sprawling empire that far exceeds what WhatsApp or Messenger can do. Chinese authorities are considering requiring Tencent Holdings Ltd. For the last few years, China’s central bank has been trying to ramp up the adoption of digital yuan, or e-CNY, which forms part of the country’s monetary base, M0.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |