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Tencent to expand WeChat payment to more countries, regions

WeChat payment, WeChat in 20 countries

Tencent Holdings is expanding its WeChat mobile payment system to stores in more than 20 countries and regions to tap into the growing purchasing power of Chinese outbound tourists.


The social networking giant said foreign stores can apply to be part of its WeChat payment ecosystem as long as they have a trading license and website or an application.


The move will enable Chinese outbound travelers to pay bills by scanning the quick-response codes on WeChat, which will partner with banks to automatically convert renminbi payments into a specific type of currency that foreign stores can accept.


Currently, the payment system supports transactions in nine currencies, including the euro, US dollar, pound and yen.



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