EVO Payments International

WeChat Pay Launches Promotion For Chinese Lunar New Year

WeChat Pay, the mobile payment arm of China’s WeChat, is running promotions to celebrate the Chinese Lunar New Year, also referred to as the Spring Festival.

Mobile Payments Today reported that WeChat Pay will provide Chinese tourists with the chance to receive a red packet, which is a traditional monetary gift, when they shop at merchants that are participating in the promotion during the Spring Festival. This will enable them to enjoy the traditions of the Chinese festival while traveling outside the country. The promotions will apply in Australia, the U.S., several countries across Europe and several countries in Asia, including Hong Kong, Japan, Macao, South Korea, Taiwan, Thailand and Singapore.

To get the red packet, customers scan the QR code at participating merchants to get a coupon that is valued at $7.50 when the spending hits $75. Customers will also receive some random discounts, noted the report.

The new promotion comes as WeChat Pay is trying to make it easier for traveling Chinese tourists to pay via its digital payment service. In January, it announced it will open up its payments platform to international credit cards.

According to a report in TechNode, expats in China and those living in Hong Kong, Macau and Taiwan can now input their credit card information and activate it on WeChat Pay. The service works with Mastercard, Visa and JCB. TechNode noted that this move marks the first time users can use WeChat Pay without having a Chinese bank account or Chinese-based credit card. The mobile payment service is rolling out the new option in markets where it’s currently trying to expand.

News that international credit cards can be integrated with the WeChat Pay mobile app comes at a time when the company is growing, aiming to overtake rival Ant Financial’s Alipay. As Chinese consumers are active and eager users of mobile payments, WeChat Pay and Alipay have both been in a battle for digital payment dominance in the country.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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