Forum Moderators: open

Message Too Old, No Replies

Visa/MC & Alipay/WeChat K-I-S-S-I-N-G

         

iamlost

7:45 pm on Nov 9, 2019 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member Top Contributors Of The Month



Something to keep an eye on...

Part 1: Discover, MC, and Visa have partnered with Alibaba's Ant Financial's Alipay to allow foreigners to use their cards to top up Alipay's prepaid card (minimum 100 yuan, maximum balance 2000 yuan).

Part 2: MC, Visa, Discover, have partnered with Tencent's WeChat to directly link foreigner's cards to WeChat Pay digital wallet app for a (current trial) limited number of services.

Previously only Chinese bank cards/services could be used.

Note: the past year has seen over 30 million foreign visitors spend more than 70 billion USD.

If this initial trial proves successful I can (1) see it use case broadened within China and (2) a sooner rather than later Chinese digital payment foray into the wider world, which is far behind in such offerings. And of which Discover, MC, and Visa are apparently well aware...

bill

2:34 am on Nov 12, 2019 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member Top Contributors Of The Month



Interesting that the Chinese partner up with global credit cards, while the Japanese have been seemingly trying to do it on their own or just partnering with Japanese financial institutions.