According to the Wall Street Journal, 16 million red envelopes were sent in the first 24 hours of this new feature's launch. The red envelope feature significantly increased the adoption of WeChat Pay. The feature was launched through a promotion during China Central Television (CCTV)'s heavily watched New Year's Gala, where viewers were instructed to shake their phones during the broadcast for a chance to win sponsored cash prizes from red envelopes. When sent to groups, the money is distributed equally, or in random shares ("Lucky Money"). The feature allows users to send money to contacts and groups as gifts. In 2014, for Chinese New Year, WeChat introduced a feature for distributing virtual red envelopes, modelled after the Chinese tradition of exchanging packets of money among friends and family members during holidays. WeChat Pay can be used for digital payments, as well as payments from participating vendors. Users who link their credit card can only make payments to vendors, and cannot use this to top up WeChat balances. For non-Chinese users of WeChat Pay, an additional identity verification process of providing a photo of a valid ID as well as oneself is required before certain functions of WeChat Pay become available. Users can acquire a balance by linking their WeChat account to their debit cards, or by receiving money from other users. The settlement time depends on the payment method chosen by the customer.Īll WeChat users have their own WeChat Payment accounts. Īlthough users receive immediate notification of the transaction, the WeChat Pay system is not an instant payment instrument, because the funds transfer between counterparts is not immediate. Now, WeChat Pay has six different payment products: Quick Payment, QR Code Payment, Mini Program Payment, Official Account Payment, In-APP Payment, and Web Payment. WeChat Pay ( 微信支付) is a digital wallet service incorporated into WeChat, which allows users to perform mobile payments and send money between contacts. Users can link their Chinese bank accounts to enable seamless transactions through the Visa, MasterCard and JCB. These services are offered by verified third-party entities called "official accounts," which create mini-programs or "apps within the app" to provide specific functionalities. Users who have provided their bank account information can utilize the app for various financial transactions such as paying bills, making purchases, transferring money to other users, and even conducting in-store payments if the stores support WeChat payment. WeChat Pay reached 900 million users in 2021. Other competitors, Baidu Wallet and Sina Weibo, also launched similar features. The success prompted Alibaba to launch its own version of virtual red envelopes in its competing Laiwang service. Alibaba company founder Jack Ma considered the red envelope feature to be a " Pearl Harbor moment", as it began to erode Alipay's historic dominance in the online payments industry in China, especially in peer-to-peer money transfer. WeChat Pay's main competitor in China and the market leader in online payments is Alibaba Group's Alipay. As of March 2016, WeChat Pay had over 300 million users. WeChat Pay ( Chinese: 微信支付 pinyin: Wēixìn Zhīfù), officially referred to as Weixin Pay in China, is a mobile payment and digital wallet service by WeChat based in China that allows users to make mobile payments and online transactions. They did send me money, WeChat asked me to complete real-name verification.Īnd I stuck here: after entering my address, local passport data, and credit card info it says that WeChat pay is not supported in my region.Mobile payment service in China Weixin Pay Since I don't have the wallet button in WeChat, I paid on to top-up my WeChat, so I could try to receive money and complete real-name verification. If you're not a Chinese citizen (like me - I've never been to China), then you can use WeChat real-name verification instead. So Tencent WeGame asks for an id card number to track your in-game time. There's a Chinese law that limits how much children are allowed to play videogames. I tried to register a QQ account, but it seems that it's much easier to create a WeChat account instead. Tencent WeGame uses accounts from WeChat or QQ. I need to buy an app there called Wallpaper Engine. There's an app called Tencent WeGame - Chinese Steam basically. TLDR: I need real-name verification to use an app in Tencent WeGame
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