These can include but are not limited to: On top of the annual $99USD verification fee, Tencent requires many verification documents to be submitted in order for the Official Account to be owned by an overseas business. However, it comes with a price, and is not nearly as simple as creating a Facebook company page. Prior to 2018, registering for an Official Account was only available for Chinese-owned enterprises, or accounts registered by marketing agencies or third-party Chinese intermediaries. An Official Account will allow your brand to be seen both inside and outside mainland China, effectively jumping the infamous firewall which blocks social networks like Facebook, Instagram, Twitter and even Google in Mainland China. So you want to start marketing to consumers using WeChat? The first thing you’ll need to do is set up an officially verified WeChat account. Let’s Get Started: Getting Verified and Choosing a WeChat Official Account Chinese tourists will be able to make payments in RMB, which will then be translated to CAD using the spot currency exchange. has already begun working with Tencent and Alibaba to introduce their mobile-payment infrastructure in Canada. Introducing the mobile-payment infrastructure to support WeChat Pay and Alibaba in Canada offers the potential for Canadian businesses to gain a much larger Chinese tourist market.Īs of June 2017, Toronto-based OTT Financial Inc. This source is from 2018 - we can imagine WeChat Pay & Alipay are more widely accepted now. By 2019, it had claimed 40% of the market share for online transactions. The Digital Wallet can take money directly from users’ personal bank accounts, allowing the users to complete all their personal banking and online shopping without ever having to leave the app.Īlthough it came late to the game compared to other third-party payment systems like Alipay, WeChat Pay quickly rose to competitor status, expanding its operations to include everything from bill payments to groceries. Essentially, WeChat Pay is a “Digital Wallet” that functions as a mini-app within WeChat and links to a user’s active social media account. In 2013, WeChat released WeChat Pay, an app-within-app that allowed peer-to-peer (P2P) transfers. This can be seen through WeChat’s development of an e-commerce component, WeChat Pay, which has seen immense success. This community of users is glued to WeChat as it provides a way for people to connect not only to other people but also to businesses. What WeChat has done successfully in comparison with its other social media counterparts is its ability to develop a devoted community. There’s probably a Mini Program for just about anything - similar to what you see in the App Store or Play Store. WeChat Mini Programs, essentially apps within WeChat, allow users to play games, order food, and boost productivity.
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