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.
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