Retail

WeChat Pay, Network International Team On UAE Merchant Payments

WeChat Pay, Network International Team On UAE Merchant Payments

Tencent Holdings, the company that developed mobile payment app WeChat Pay, has teamed up with Network International to allow for the service to be available across the United Arab Emirates, according to a release on Monday (Feb 24)

Network is the leading enabler of commerce that’s digitally based, through the Middle East and Africa.

WeChat Pay is a payment service that comes with WeChat, one of the most popular messaging services in the world, and mainly used in China.

The app has more than 1 billion users around the world. Millions of Chinese tourists will now be able to use the service in the UAE through Network International’s “extensive merchant network,” using their WeChat mobile wallet.

“We are excited to work with Tencent Holdings to offer WeChat Pay to our clients across the UAE. Our agreement brings an incredible opportunity to the UAE’s retail and hospitality sectors, helping them cater to the growing demand from Chinese visitors,” said Paul Clarke, group head of product and innovation, Network International. “As a market leader in end-to-end payment solutions, we are delighted to enable our network of merchant partners in the UAE to keep pace with new technologies, offering them a competitive edge.” 

Network International is the UAE’s biggest merchant acquirer, and it said that it's “committed to technology innovation and partnerships aimed at enhancing the UAE’s retail economy.”

The company is going to act as the settlement acquirer and the solution provider to facilitate mobile transactions through WeChat Pay for both online purchases and at points of sale. 

In other WeChat Pay news, the service recently introduced a new option for Chinese students who want to pay their tuition at South Korean universities, in a move that’s intended to help students with cross-border tuition transactions. 

The service is on a central website for 11 universities, which include Dongguk University and Chung-Ang University.

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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