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WeChat Pay to expand overseas, especially US, in H2 this year

07/20/2018| 10:49:30 AM|

Amid expanding its payment services abroad, Tencent has not yet tried to create local versions of WeChat for other countries.

Tencent Holdings told Global Times on Thursday that WeChat Pay is expected to connect more American merchants in the second half of this year. 

Amid expanding its payment services abroad, Tencent has not yet tried to create local versions of WeChat for other countries. 

"The first step is, we will choose merchants that Chinese tourists like, some outlets and duty-free stores, some famous restaurants. Maybe as a next step, we will try and find some smaller merchants, like supermarkets, convenience stores, transportation [services] like taxis. We will choose the big merchants Chinese tourists like. Once the service has showcased, we will try to expand it to small merchants," Yin Jie, director of cross-border operations at WeChat Pay, was quoted as saying in the report.

On Wednesday, Tencent announced the launch of its local digital wallet in Malaysia.

Chen Qiru, Tencent's financial technology director, said there are two approaches of Tencent's overseas payment services: cross-border payments to satisfy the demand of domestic travelers abroad and local payment tools offered by obtaining related licenses. 

The latter model is being applied in Malaysia and China's Hong Kong where many WeChat app users exist.

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TAGS: Tencent | WeChat Pay | America
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