WeChat launches mobile payment service
Chinese Internet company Tencent is launching an in-store mobile payment service on its messaging app WeChat for nine retailers.
The feature will be initially rolled out for Dairy Queen (restaurant chain), Guoda Pharmacies, Tianhong and Minsheng Baihuo (department store chains), One Plus One and Lotus (supermarkets) Hao Linju and Guoda 365 (convenience store chains) and Aiyingshi (childcare chain).
Chinese WeChat users can now find a new “shua ka” or “Small Payment” feature inside the “Wallet” section of the app. Pressing the icon and entering one’s password for WeChat payments will automatically generate a QR code or a barcode. Using that, one can make in-store payments where the retailers can scan the code, reports Pingwest.com.
Tencent, recently collaborated with Baidu and Wanda Group for e-commerce venture that would challenge the dominance of Alibaba.