Tag: wechat

WeChat mobile payments rolls out in Hong Kong

The popular messenger app has just launched this new wallet service to users in this market.

The exceptionally poplar messenger app has now announced the launch of a WeChat mobile payments service that is now available to be used as a wallet application by consumers in Hong Kong.

The WeChat Pay service provides Hong Kong consumers with the ability to pay for purchases within the app.

The idea behind the WeChat mobile payments features is that as consumers use the app, they can buy what they want without ever having to exit the application. Essentially, it means their mobile wallet goes where they do while they’re using their smartphone or tablet. According to the Tencent head of Hong Kong and Taiwan Office, International Business Group, Norman Tam, “We are so excited to bring WeChat Pay, a new mobile experience that allows users to pay on the go in the simplest way, to Hong Kong.”

Tam explained that WeChat mobile payments provide both seamlessness and security to m-commerce.

WeChat Mobile Payments - Image of Hong KongHe explained that the mobile app has been specifically customized for users in the Hong Kong market. He said that while WeChat Pay gives users a solid mobile wallet option, it also provides “our partners with the benefit of a direct connection to WeChat’s massive community that other payment platforms cannot provide. This is truly a triple-win for us all.”

In order to be able to use the WeChat Pay service, users must enter their Visa or MasterCard information into their accounts in the app. In order to boost the security level of the transactions, users are then prompted to create a unique six digit PIN that they will need to remember and use every time they want to complete a purchase transaction within the app.

The setup process is meant to be quick and easy. Once it is complete, users gain the ability to immediately purchase products and services by tapping their smartphones on point of sale reader devices. Upon the launch of the WeChat mobile payments service, users are able to buy transportation fares, tickets, and travel products. According to reports on the new feature, there will be additional categories coming soon.

Mobile commerce continues its aggressive expansion in China

China is leading the way in mobile commerce growth

China is becoming more aggressive when it comes to mobile commerce. Until very recently, the country has relied heavily on cash rather than other forms of commerce. Many shoppers throughout the country had preferred paying in cash because they considered it more secure and convenient. As smartphone penetration grows, however, more consumers are beginning to use their mobile devices to shop for and purchase products. Large companies are beginning to take advantage of this, offering consumers new services that allow them to participate in mobile commerce.

WeChat is finding success by encouraging consumers to use its mobile payments service

WeChat is one of the companies looking to bring consumers into the mobile commerce field. WeChat is China’s largest messaging application and social network and the company launched an ambitious campaign last year to highlight its new payments service. During Chinese New Year last year, some 400 million people sent hongbao, traditional gifts containing money sent during the holiday, to their friends and families. This year, however, more than 1 billion digital hongbao were sent through WeChat’s service.

Consumers are finding it easier to shop for and purchase products with their mobile devices

China Mobile Commerce Booming GrowthConsumers are becoming more comfortable with the concept of mobile commerce, using services like Alipay to purchase products that they are interested in. The companies and retailers behind these services are quickly expanding, looking to find every greater degrees of success in the mobile commerce market. Some of these companies, such as Alibaba, are also investing in foreign mobile commerce firms, hoping to establish a foothold in new markets and encourage the further growth of the mobile commerce field.

Young consumers are more likely to participate in mobile commerce

While many consumers still prefer to pay for products with cash, young consumers are embracing mobile commerce quite aggressively. These consumers have been exposed to technology from a young age, making them more comfortable with digital services. Older consumers are also embracing mobile commerce, but at a slower pace. As new services become available, more consumers are expected to become involved in mobile shopping.