Daily limit of 500 yuan set for WeChat payments with static QR codes

From April there will be a daily limit of 500 yuan (79.7 U.S. dollars) for WeChat transactions made using static QR codes, reports thepaper.cn.

The WeChat Wallet system. [Photo: VCG]

--Static codes are generally used by street vendors and small stores where the customer scans a printed QR code to pay. But the printed QR codes are often easy to swap with fraudulent codes. China's Payment and Clearing Association says that because customers use static codes when making small purchases like buying vegetables, fruits, and snacks, a 500 yuan limit is enough to cover daily needs.

The daily limits on dynamic codes – a code generated on a users' smartphone that sellers can scan – varies depending on the payment verification method in place. Some users have no daily limit, while others are limited to 1,000 or 5,000 yuan of transactions.

Users who want to remove the daily WeChat transaction limits have to add a digital certificate, e-visa, and fingerprint or password verification to their account. If users have two security features added to their account – a combination of a password, SMS verification code, or fingerprint – they can access the 5,000 yuan daily limit. Users with only one of the security measures in place are limited to 1,000 yuan worth of dynamic code transactions a day.