WeChat starts pay­ment ser­vice with mer­chants

China Daily (Canada) - - NEWSCAPSULE -

WeChat has launched a pay­ment ser­vice that al­lows mer­chants to ac­cept cus­tomers’ money via Ten­pay, the third-party pay­ment tool run by Ten­cent Hold­ings Ltd.

The new func­tion was of­fi­cially launched this week af­ter tests among ven­dors across 20 in­dus­tries from bank­ing to din­ing and tourism to e-com­merce, a com­pany state­ment sent to China Daily said.

This marks the lat­est at­tempt by Ten­cent to in­te­grate on­line and off­line re­sources and make in­roads into an area long dom­i­nated by e-com­merce gi­ant Alibaba Group Hold­ing Ltd.

To activate WeChat’s pay­ment ser­vices on pub­lic ac­counts, mer­chants have to pay $3,266 as a de­posit. Ten­cent charges 0.6 per­cent of gen­er­ated rev­enues as a com­mis­sion.

WeChat de­clined to es­ti­mate how many cor­po­rate clients have signed up for the ser­vice.

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