According to IBS Intelligence, the service enables merchants to use WeChat Pay as an additional payment solution on their ecommerce platform, while providing them with global access to over 800 million Chinese consumers.
Moreover, payments made by the buyers in Chinese Yuan or the Hong Kong Dollar (for Hong Kong users) are received by Airwallex and converted to the merchants’ currency of choice within two business days. Additionally, the platform allows merchants to view, track, and manage their WeChat Pay transactions, download settlement reports, as well as issue refunds. Besides, the company is currently working on additional features such as a data analytics tool, which will provide important business insights on WeChat Pay payments to help merchants.
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