Tencent announced Tuesday evening that it will release the first batch of 1 million digital credit cards on its instant messaging tool WeChat together with China CITIC Bank and online insurance company Zhong An, shortly afterwards Alibaba announced a similar program on AliPay Wallet earlier the same day. This service is under internal testing and will be released very soon.
After entering WeChat’s My Bankcard interface, users can apply for the digital credit card by filling in personal information like, name, ID number and phone number.
The similarities and differences of AliPay’s and WeChat’s services are as follows:
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