This is great for traders on the go who might want to fund or empty a trading account from their mobile phones. WeChat Pay’s transaction processing is almost instantaneous and can work over a 3G or WIFI connection. This is particularly good for traders where lots of little fees can add up. As WeChat acts as a conduit for bank card payments, and as such no account needs funding, the service has no deposit or withdrawal fees. WeChat Pay is a low-cost payment option, with users charged a rate of 0.1% to use the service, better than their closest competitor, AliPay at 0.55%. If this happens, you can contact customer service to resolve the issue. WeChat Wallet may not allow you to set up a bank card without a Chinese mobile number associated with the social media account.
Pay with wechat code#
From there, head to the WeChat Wallet and add a debit or credit card (including Visa and Mastercard), at which point you can set a PIN code and begin using the payment method. Start by downloading the WeChat app from either the Apple App Store or Google Play Store and setting up an account on the platform. Setting up an official account so you can use WeChat Pay to deposit funds into a trading account is a simple process. WeChat Pay is widely used amongst Chinese traders to fund and empty trading accounts but is also used for transferring money between friends, paying for bills and purchasing train tickets, for example.
Pay with wechat Offline#
It can be used online and offline and allows all its users to receive money and pay for things both inside and outside of the app with a simple QR code. The system works similarly to PayPal, where a payment made through the WeChat app comes straight out of your bank account. Available to all with a Chinese bank card, its ease of use has generated impressive popularity and growth, with 90% of phones in China now coming with the application already installed. WeChat Pay is a payment feature of the WeChat app. Offering a huge range of markets and 6 account types, they cater to all levels of trader. In fact, WeChat actually has a lot of partnerships set up with other Chinese companies which allow you to directly access them as a Mini Program.FXTM is a leading forex and CFD broker. JD is not the only app you can access thorugh WeChat. You are also able to directly access JD through the WeChat app. Similarly, thanks to a deal in 2015 between Tencent and Jing Dong, you are only able to use WeChat Pay as a mobile payment on JD. This is because they are both owned by Alibaba so it makes sense for their business not to allow their competitor WeChat Pay as an option on their shopping apps. You’ll see that the only usage Alipay has which WeChat Pay doesn’t is the shopping apps Taobao and TMall. In fact, there are now some shops and venues which only accept mobile payments.
![pay with wechat pay with wechat](http://www.citcon.com/wp-content/uploads/2018/03/wechat-pay-1.png)
Whether it’s ordering food, getting a taxi, topping up your electricity, buying plane tickets or sending money to friends the sky really is the limit with these mobile payment apps. Yes, nowadays WeChat Pay and Alipay can be used for pretty much everything. WeChat Pay vs Alipay – What Can they be Used For? Living in Beijing Part 1 | Being a Beijing Expat ? What’s the Deal?īeijing is an incredibly large city, and because of this looking for apartments and getting prepared for living in Beijing can be extremely daunting. With more supported currencies and a much higher limit for withdrawals, you can see some of the ways that Alipay is more focused towards ecommerce and business. In the table below you can see some of the key differences between the two smart payment systems. As Alipay was originally created as a payment platform for the Alibaba website, it has become more of an escrow payment service. Popular uses are purchasing groceries, paying bills, transferring money to friends, sending red envelopes and other everyday transactions.Īlipay on the other hand puts more emphasis on e-commerce payment and financial services. WeChat Pay is more of a social app used by most users to navigate their daily life.
![pay with wechat pay with wechat](http://wechat-pay.my/uploads/1/2/2/5/122515226/in-app-web_orig.png)
This means that although both systems can be used for similar things the focus of them is slightly different.