With a small team, TechNode provides timely news and thoughtfully researched articles for worldwide readers interested in learning more about the Chinese tech industry. UnionPay, China’s payment service provider, has also joined with Guangzhou Metro to provide UnionPay’s QuickPass service for passengers to directly pass through subway gates.
#PAY WITH WECHAT CODE#
Alipay, for instance, has launched similar QR code scanning service in Hangzhou and Wuhan. The public transportation sector has appeared to be a new battleground for these major mobile payment players in China. Once users enable the QR code scanning payment method for public transportation, they’ll be given a QR code stored in their “Cards & Offers” section in WeChat. The company said that the service will spare the hassle for the passengers when their bus card runs out of money, forget to bring them, or simply don’t have changes at hand. The QR code for bus payment in Guangzhou (Image credit: TechNode) The system, however, is not yet available in Beijing and Shanghai. The service is now available in eight cities, including Guangzhou, Qingdao, Jinan, and Hefei, and will be soon joined by three other cities like Shenzhen. It only takes 0.3 seconds to scan the QR code, and the passengers are all set and can pay later.
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WeChat’s passenger code is a payment method that supports offline payment, where passengers can take the bus first and pay afterward when they have stable internet connection on their smartphones.
It performs well in areas such as digital payments, gaming and digital media but is being held back by its poor performance in areas such as data privacy and antitrust regulations.WeChat announced on Thursday that it has launched QR code scanning payment for public transportation systems in 11 Chinese cities. Tencent currently sits at number 16 on GlobalData’s thematic scorecard for social media companies. The service sees over 902 million daily active. Prior to that, WeChat began allowing links to rival platforms to be shared in one-to-one chats. WeChat Pay is a digital e-wallet service incorporated into WeChat, Chinas largest social media platform. Soon after, Alibaba started allowing WeChat Pay on several of its platforms, initiating the breakdown of its walled gardens. “The development of the Internet must be able to make people’s lives more convenient, facilitate the development of all aspects, and ultimately promote the healthy and orderly development of the internet industry and platform economy,” said Xiao Yaqing, China’s Minister of Industry and Information Technology at a press conference. In September, China’s Ministry of Industry and Information Technology (MIIT) issued an ultimatum to internet companies to open up their walled gardens and allow rival links and payment services on their sites or risk regulatory action. In return, Alibaba’s ecommerce platform, Taobao, only accepts its own payment service, Alipay. This includes opening so-called walled gardens that, for years, blocked users from accessing payment services from rival companies.įor instance, ecommerce platform JD.com, which is backed by Tencent, has WeChat Pay as its default payment option. Equally, it gives WeChat Pay users the same option with QuickPass codes.Ĭhinese regulators have made an aggressive push urging big tech companies to terminate monopolistic practices. The cooperation enables QuickPass users to make payments by scanning WeChat Pay’s QR codes.
In addition Tencent, WeChat’s parent company, has extended its partnership with Cloud QuickPass – the mobile payment service of state-backed UnionPay – which was first announced in September. On a local level, the Bank of Xi’an, Bank of Hangzhou and Tonglian Pay have also joined the list. The partners mentioned include the Industrial and Commercial Bank of China, China Construction Bank, Bank of China, Bank of Communications, Ping An Bank and CITIC.
The news comes as regulators have urged private financial service providers in China to open up their platforms or face penalties.Īccording to Chinese media, WeChat will work together with several central-bank-backed financial institutions to promote a more open payment ecosystem. One of China’s biggest mobile payment platforms, WeChat Pay, is apparently cooperating with several national financial institutions to further promote openness and interoperability among the digital payment industry.
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