ASCHHEIM, Germany, July 10, 2017 /PRNewswire/ --
- European retailers can target over 938 million monthly active WeChat and Weixin users
- Wirecard signs agreement with Tencent to provide European retailers a new mobile payment method
Europe has a new mobile payment method: Wirecard will enable European retailers to accept WeChat Pay, one of the leading mobile payment solution in China.
As part of Tencent, the leading provider of Internet value added services in China, WeChat and Weixin are part of Chinese people's daily life, and the combined monthly active users is over 938 million. The mobile payment solution, WeChat Pay, has over 600 million active users, that equivalent to nearly 40 percent market share of Chinese mobile payment market. With this collaboration, Wirecard aims to unlock this attractive market to European retailers.
China is an important tourism key source market for European countries, the average spending per Chinese tourist reaches EUR 3,000, the spending momentum is growing strong, especially on buying luxury products such as clothes, jewelry and watches, cosmetics and household goods with strong brand names. As the Chinese are generally more accustomed to mobile payments than to card payments, European retailers can drive their business even more attractive by offering Chinese visitors their preferred payment method.
Jörn Leogrande, Executive Vice President Mobile Services at Wirecard, said: "We are proud to be one of the first WeChat Pay partners for POS acceptance in Europe. This collaboration is an additional step for us to offer retailers a whole range of alternative and classical payment methods with just one interface where other payment methods can be added regularly. Thanks to our ConnectedPOS platform we are able to integrate them with minimal intervention in the existing cash register. We are looking forward to expand our business and to offer WeChat Pay for customers all over Europe."
3 steps for Chinese visitors to enjoy cashless mobile payments in retail with WeChat Pay
- Open WeChat or Weixin App and go to Wallet feature
- Show the QR code on phone screen to retailer
- Retailer scans the QR code to activate the payment process
During the payment process, Wirecard plays a role as the acquiring bank, and bundles all transactions for the respective retailer and processes together via the collecting model.
From now on, retailers can contact Wirecard for more details of WeChat Pay. For further information, please visit: https://www.wirecard.com/wechat/
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit http://www.wirecard.com or follow us on twitter @wirecard.
About Tencent Holdings Ltd.:
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent's diversified services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information and Tencent Video for video content.
Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The Company is one of the constituent stocks of the Hang Seng Index. Tencent seeks to evolve with the Internet by investing in innovation, providing a mutually beneficial environment for partners, and staying close to users.
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SOURCE Wirecard AG