WeChat Pay tries to duplicate domestic success overseas with killer recipe: social networking

Though started as a relatively latecomer compared with its arch rival Alipay, WeChat Pay has recorded exponential growth in China since its launch in 2013. Its remarkable domestic success mainly stems from the fact that it’s an extension of social networking and IM tool WeChat, which guarantees high-frequency use from users. Fully noting the power of social networking features, WeChat Pay looks to tap the overseas market with the same recipe amid an increasing robust demand for mobile payment from Chinese outbound tourists.

“As mobile payment is increasingly welcomed by mainland Chinese outbound tourists, WeChat Pay plans to constantly invest in its cross-border business, with the aim of duplicating the domestic WeChat lifestyle overseas,” Grace Yin, WeChat Pay Director for Overseas Operation today commented on the latest white paper issued by Nielsen, which found that over 90% Chinese tourists would use mobile payment overseas given the option.

Read More: Nielsen, Alipay white paper shows overseas merchants cannot ignore Chinese mobile payments

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