WeChat Pay now accepted in Europe
There's now a new mobile payment method available in Europe. Retailers will be able to accept WeChat Pay, a leading mobile payment solution from China.
Photo shows a WeChat Pay system. [Photo: VCG]
This means that European retailers will be able to target over 938 million monthly active WeChat users, opening up a unique market to those accepting the payment method.
WeChat and mobile payment solutions are part of daily life for people in China. WeChat Pay has more than 600 million users; this new scheme would open up this market to retailers from Europe.
China is an important tourism key source market for European countries, the average spending per Chinese tourist reaches EUR 3,000, the spending momentum is growing strong, especially on buying luxury products such as clothes, jewelry and watches, cosmetics and household goods with strong brand names. As the Chinese are generally more accustomed to mobile payments than to card payments, European retailers can drive their business even more attractive by offering Chinese visitors their preferred payment method.
Jörn Leogrande, Executive Vice President Mobile Services at Wirecard, said: "We are proud to be one of the first WeChat Pay partners for POS acceptance in Europe. This collaboration is an additional step for us to offer retailers a whole range of alternative and classical payment methods with just one interface where other payment methods can be added regularly. Thanks to our ConnectedPOS platform we are able to integrate them with minimal intervention in the existing cash register. We are looking forward to expanding our business and to offer WeChat Pay for customers all over Europe."