As the eCommerce ball continues to move forward, digital payments will likely also have significant momentum.
One of the companies in this space that’s helping to further push this trend forward is China-based social media app WeChat. As we reported last week, WeChat and Alipay were responsible for approximately $3 trillion in digital payments in 2016 alone.
In a Hong Kong industry conference this past Friday, Tencent’s vice president and WeChat Pay’s general manager, Zhang Ying, commented that he’s expecting the social media commerce platform to become a regular fixture in every Chinese shop.
With Ying’s prediction of WeChat to be installed everywhere in China within the next two years and over 889 million monthly active users, it’s likely that WeChat will inevitably achieve this goal.