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:

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.