WeChat Pay connects directly multiple Chinese banking apps

Monday 15 November 2021 11:16 CET | News

China-based payments app WeChat Pay has started a collaboration to connect directly with mobile apps of financial institutions in China, among efforts by regulators to integrate payments.

Tencent announced that WeChat Pay has entered cooperative arrangements to connect directly with the apps of multiple banks and financial institutions, including UnionPay’s Yunshanfu, ICBC, China Construction Bank, Bank of China, Ping An Bank, China CITIC Bank, Fujian Rural Credit, Bank of Xi’an, Bank of Hangzhou and AllInPay.

WeChat Pay established a ‘comprehensive payments connection’ with the UnionPay Yunshanfu app in September 2021, permitting the interchangeable use of their respective QR codes for digital payments purposes. This meant that WeChat Pay users throughout China can now use Yunshanfu to scan WeChat Pay QR codes to complete payments.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: WeChat Pay, product upgrade, UnionPay, mobile payments, QR payments
Categories: Payments & Commerce
Countries: China
This article is part of category

Payments & Commerce