Both Alipay and WeChat are vying for the top spot in China’s booming third-party mobile payments market. (The region itself includes provinces such as Sichuan, Gansu and Qinghai.)
Walmart had been accepting Alipay in its more than 400 stores in the country. Although it didn’t provide a reason behind the switch, a company spokesperson said in an emailed statement to other news outlets that its partnership with WeChat stems from a business decision to improve customer shopping experiences.
In the mobile payments market, Alipay leads the race, with WeChat right behind. While Alibaba serves as China’s top e-commerce group, Tencent commands social media and is a majority shareholder in the country’s second-largest online retailer, JD.com Inc.
Both Alipay and WeChat payment methods can be used online and in stores by scanning QR codes with a smartphone. They can also be used in stores, restaurants, taxis and other services with the added bonus of user-targeted promotions and discounts.
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