Tencent has unveiled new measures aimed at improving the payment experience for international tourists visiting China, with a focus on simplifying card linking procedures and expanding integration with overseas e-wallets such as Paynet.
The initiative is part of Tencent's broader efforts to bolster tourism and cultural exchanges by enhancing convenience and security for international visitors. Key improvements include streamlining the process for registering a WeChat account and linking overseas-issued cards to Weixin Pay. Collaboration with international e-wallets like Paynet is expected to further enhance payment interoperability and convenience for tourists in China.
Overseas users can now easily create a WeChat account using their country's phone number and securely register or log in to their account. Linking international payment cards to Weixin Pay requires basic card information, enabling users to safely and conveniently make payments at various merchants across mainland China. Accepted international cards include Visa, MasterCard, American Express, Discover, Diners Club, and JCB payment cards issued outside of mainland China.
To accommodate higher transaction limits, users can submit additional verification information such as their passport, with identity verification taking only a few seconds. Weixin Pay has also increased single transaction limits for verified overseas users to up to US$5,000 and annual transaction limits to up to US$50,000. Moreover, Weixin Pay now offers UnionPay Tour Card applications within its platform, providing a seamless top-up and redemption service.
In a bid to expand global cooperation, Tencent has partnered with Paynet, NetsUnion Clearing Corporation, and China Construction Bank Malaysia to enhance QR code payment interoperability. This collaboration will allow users of the Paynet system to scan Weixin Pay payment codes for transactions in mainland China. Tencent's Tenpay Global platform will also collaborate with Wanglian to connect more overseas e-wallets to China.
WeChat Pay HK, the first overseas e-wallet to penetrate mainland China, offers a Hong Kong dollar-based e-wallet service for Hong Kong residents, serving millions of merchants since its launch. Recent enhancements include raising single transaction limits to HK$38,000 and cumulative annual transaction limits to HK$400,000 for verified users.
Tencent's initiatives come in response to the growing inbound tourism to China and the surge in mobile payments by Chinese visitors. Since July 2023, Weixin Pay's overseas payment card service has witnessed a significant increase in transaction volume and number, with consumption concentrated in online lifestyle services, shopping, dining, and tourism.
In addition to service improvements, Weixin Pay has launched the "Welcome to China, easy pay with Weixin Pay" website to educate and engage overseas users. The website offers a comprehensive collection of resources, including branding videos, user guides, and relevant information to facilitate seamless payment experiences for tourists in China.
