WeChat Pay and Alipay

What is WeChat and Alipay

WeChat Pay and AliPay allow its users to integrate all aspects of their day-to-day financial lives in one place. Users can transfer money to friends, shop for groceries, or pay their bills — all without ever having to leave the app. Providing this kind of familiar convenience in Vancouver shows Chinese consumers that you’re invested in their business.

WeChat Pay

WeChat Pay is a payment feature integrated into the WeChat app, allowing users to complete payments quickly with smartphones. Quick Pay, QR Code Payments, In-App Web-Based Payments, and Native In-App Payments, fulfill the full range of scenarios your customers can expect to use in a variety of payment arrangements.

Alipay

AliPay is the world’s most popular online payment platform, created by China’s Alibaba Group. With over 520 million monthly active users, it has twice as many users in China than PayPal does worldwide.

Why use WeChat or Alipay

Over 600 million monthly active Chinese users have their bank account linked to WeChat according to McKinsey’s 2016 China Digital Consumer Report Survey. WeChat Impact Reported that in 2016 31% of WeChat users make e-commerce purchases through WeChat.

Accepting Alipay and WeChat Pay can save Canadian businesses on international credit card rates. Whereas Visa and Mastercard charge between 2-3% on transactions, these mobile payment apps charge only 1.5%, including currency conversion.

Reasons to consider WeChat or AliPay in Canada

  • China emerged as Canada’s 2nd largest overseas inbound market in 2017 in arrivals.
  • Over 682,000 Chinese Travelers visited Canada in 2017; over half in BC alone.
  • There are over 2 Million Chinese immigrants in Canada.
  • $1.63 Billion was spent by Chinese Travelers in Canada.

POS for WeChat and Alipay

OTT Pay is an integrated cross-border payment and marketing platform that connects global merchants with millions of Chinese consumers. Our partnership with OTT in Toronto allows us to provide you with technology solutions that integrate seamlessly into existing POS workflows both online and on the sales floor right here in Vancouver. Partnering with WeChat Pay, OTT has designed a platform to manage the access of Canadian vendors who want to use WeChat Pay solutions.

Get started with WeChat and Alipay

WeChat and AliPay solutions are incredible assets for any business looking to attract and service Chinese customers. With the help of our consultants, Periphery Digital has the tools and expertise to help your Canadian business succeed in the Chinese market. Connect with us today to see how can make this happen.