Business
Tencent Further Enhances Digital Payment Services for Visitors to China, with Process Streamlined and More Overseas Wallets Linked
To foster cross-border tourism and international cultural exchanges, Tencent is taking comprehensive steps to enhance the payment experience for...
About this update from Tencent Holdings Ltd
[{"type":"text","content":"\n \n\t\t \n \n \n \n SINGAPORE, April 15, 2024 /PRNewswire/ -- To foster cross-border tourism and international cultural exchanges, Tencent is taking comprehensive steps to enhance the payment experience for visitors to the mainland of China. A series of measures are streamlining the process: It is now both more convenient and safe to register for a WeChat account, as well as quicker and easier to link international cards to Weixin Pay. Weixin Pay is also actively exploring interoperability with more overseas e-wallets to further enhance the payment experiences for visitors.\nAfter downloading or updating the latest version of the WeChat app, overseas users can register for a WeChat account with an overseas mobile number (i.e. any country/region code other than +86), and either sign up for a new account or sign in with an existing WeChat account. After filling in basic card details to link an eligible international card[1] with Weixin Pay, overseas users will be able to easily access over tens of millions of merchants in the mainland of China, including small and medium-sized businesses and street vendors. The simplified card linking process allows international visitors to spend up to a certain amount safely and conveniently.\nFor those who would like to enjoy a higher transaction limit, they can complete the identity verification process by submitting relevant information. Passport verification can take as fast as only seconds to complete. Weixin Pay has increased transaction limits for verified international users, with the single transaction limit being raised from US$1,000 to up to US$5,000, and annual transaction limit being raised from US$10,000 to up to US$50,000.\nTo provide international visitors with more diverse payment options, in addition to linking international cards with Weixin Pay, overseas users can also apply for and link UnionPay's Tour Card, a pre-paid card offering a one-stop service for top-up and consumption, through Weixin Pay.\nTo support visitors to China in using their existing local e-wallets, Tenpay Payment Technology Co.,Ltd, NetsUnion Clearing Corporation, and China Construction Bank (Malaysia) have partnered with Payments Network Malaysia (PayNet) for Cross-Border QR payment interoperability. Users of multiple local wallets i...