Tencent recently launched the Malaysian version of WeChat wallet, which offers mobile payment services to local users. This is the second overseas localized wallet application after tencent launched WeChat Hong Kong wallet.
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For Tencent’s overseas payment business development strategy, Tencent Financial Technology Vice President Chen Qiru said, “Tencent has two development paths in the overseas payment business layout. First, it meets the convenient payment needs of Chinese tourists for overseas travel through cross-border payment. Currently supported. Compliance access in more than 40 countries and regions, supporting direct transactions in more than 13 currencies (including RMB).
On the other hand, in areas with high micro-credit users, such as Hong Kong and Malaysia, Tencent has applied for a local payment licence to provide convenient mobile payment services to local customers in Hong Kong and Malaysia with local wallets, providing food, clothing and accommodation for local residents with a one-stop life service. ”
To catch the demand of Chinese tourists across the border, and to meet the demand of overseas local users to pay. What are the specific measures for Tencent to pay for its foreign hands?
Make regional development and scene innovation to meet the needs of Chinese tourists to pay abroad
According to the report released by China Tourism Research Institute, 2017 outbound travel reached 131 million, an increase of 6.9%, outbound tourism costs 115.29 billion U.S. dollars, an increase of 5%.
The data show that offshore payment is a blue sea market.
At present, the domestic mobile payment industry is deepening, accompanied by the upsurge of outbound tourism. Tencent in the scene, the region and other aspects of positive expansion and innovation, speed up the overseas mobile payment layout.
From France’s big shopping malls, Japan’s Hokkaido airport, to Thailand Bangkok convenience store, South Korea Seoul Beauty Shop, there are Tencent mobile payment figure.
Up to now, WeChat cross-border business has supported compliance access in more than 40 countries and regions and supported direct trading in more than 13 currencies (including RMB).
In addition, according to the rigid demand of Chinese outbound tourism — “tax refund”, tencent mobile payment also provides corresponding solutions, and launched a real-time overseas tax refund service based on WeChat small program — “tencent tax refund pass”.
In view of the overseas payment demand of Chinese tourists, Tencent invests a lot of resources in geographical expansion and scene innovation. In the face of rising overseas users, Tencent is introducing a localized wallet to meet the local payment needs of these users.
For external users of WeChat, tencent pushed localized wallet
In march, media reported that WeChat’s global accounts had reached 1 billion and its overseas users were growing rapidly, mostly from southeast Asia, Europe and the United States. Although WeChat did not release the latest data, it has to be admitted that WeChat is being accepted by users in other countries.
In the face of WeChat users outside the country, tencent mobile payment has also launched a number of convenient services in the form of local wallet.
In south-east Asia, tencent acquired a third-party payment licence in Malaysia last year, and ma huateng, chairman and chief executive of tencent’s board, has said: “it’s actually very difficult to apply. After getting the license, we also found that a lot of local infrastructure is still to be built, and some Banks cannot provide the interface. Without connectivity, much progress cannot be made. We are aware of the importance of this and are pushing for technological change between Banks. Just last month, tencent launched the Malaysian version of WeChat wallet, a mobile payment service for local users.
In Hong Kong, the consumption scenes supported by WeChat Hong Kong wallet include online scenes such as red packets, money transfers, cross-border remittances, phone charges and ticket purchases, as well as offline scenes such as subway, supermarkets, convenience stores, fast-food restaurants and shopping malls.
In addition to geographical expansion and scene innovation, tencent’s overseas payment strategy is also strongly driven by technology. Ma huateng once revealed that “the payment system FPS under development can achieve rapid transfer between Banks and WeChat Hong Kong wallet after its arrival this year, and it can achieve lower transfer cost than at present. We are waiting for the system to be developed to speed up the mobile payment layout in Hong Kong.