![]() They can still make purchases through this account after they go back to China. HONG KONGChinese technology giant Tencent Holdings Ltd. As soon as the buyer finishes the payment, he can follow the overseas vendor’s official account. 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. The converted CNY amount will then be deducted from the buyer's account when the buyer confirms the deal in WeChat Pay. When a buyer purchases a product from an overseas vendor, this spot exchange rate will be used to convert the foreign currency into CNY. More and more Chinese people choose to travel abroad. How will overseas vendors benefit from WeChat Pay? Tencents WeChat Pay is one of the largest payment processors in the world, making up nearly 40 percent of Chinas multi-trillion dollar mobile payments industry. ![]() WeChat has Quick Pay, QR Code Payment, In-App Web-based Payment, In-App Payment, Mini Program Payment, to fulfill different payment situation. Chinese tech giant Tencent is exploring whether regulators will require it to create a financial holding company to house is fintech business, a top executive. WeChat is a leading lifestyle ‘super app’ used for messaging between people, as well as connecting people, services and businesses in China and around the world through a number of e-commerce and social features inside the app. It is the best choice of mobile payments. As it turns out, Tencent, the company that owns the payment system WeChat Pay, has been testing out palm-print payment devices in the country for months, according to social media posts. WeChat, owned by Tencent, is China’s leading mobile app with over 1 billion monthly active users. ![]() Combined with WeChat official accounts, WeChat Pay service explores and optimizes o2o consumption experience, provides professional internet solutions for physical business. WeChat has Quick Pay, QR Code Payments, In-App Web-Based Payments, and Native In-App Payments, all to fulfill the full range of scenarios your customers expect to fulfill different payment situation. The all-encompassing app is the flagship product of Tencent, China’s 450-billion market cap gaming and social. WeChat Pay is a payment feature integrated into the WeChat app, users can complete payment quickly with smartphones. For many people in China, WeChat is the internet. ![]()
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