![]() The company revealed that its Q4 net profit declined 32 percent to ¥14.2 billion ($2.1 billion USD), falling below analysts’ prediction of ¥18.3 billion. While Tencent reported lower-than-expected net profits in its fourth-quarter earnings, WeChat and some other emerging businesses have seen significant growth. In addition, there was the launch of WeChat Pay Malaysia in August. The company also noted a first-of-its-kind, cross-border, mobile payment service launched last year, which enables WeChat Pay Hong Kong users to conduct RMB-denominated transactions funded by Hong Kong dollars, with the transaction volume of WeChat Pay Hong Kong increasing more than 10 times YOY. ![]() In fact, merchants that used WeChat Pay on a monthly basis grew more than 80 percent year over year (YOY). WeChat’s eWallet had a daily transaction volume of more than 1 billion last year. WeChat Pay has over 1 billion users and is one of the most popular payment methods in China. The feature is currently available only on iOS.Īnt Financial’s Alipay - WeChat Pay’s rival - launched a comparative feature in 2012 that lets users send and receive funds using a mobile number or email addresses.īank of China, China Merchants Bank, and Industrial and Commercial Bank of China have also launched payment features using a mobile phone number. WeChat users can unlock the new feature from the messaging app and transfer money to the receiver’s WeChat wallet by entering a phone number - even if both parties are not friends. ![]() ![]() Tencent’s WeChat Pay is launching a new payments feature that lets people transfer funds using a mobile phone number, TechNode reported on Wednesday (Oct. ![]()
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