HomeEverythingEducation
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
Story archiveAll categories
← All Stories

Tencent allows PayPal users to pay via WeChat Pay network

Created at 2 Jun · 6:05 AM1 source↑ Market-relevant
IN SHORT

Tencent announced that PayPal users can now make cashless payments in China by scanning QR codes through WeChat Pay's merchant network. This integration connects PayPal's 400 million users to China's extensive payment infrastructure, initially available to US-based users.

✉Newsletter

PiQ Daily

Pick your topics. Get only what matters, on your cadence.

Key Numbers

400 millionPayPal users connected

Who's Involved

Tencent
Technology conglomerate enabling PayPal payments
PayPal
Payment platform whose users can now pay in China
WeChat Pay
Tencent's payment service facilitating the transactions

↳ Why This Matters

China's payment landscape has historically been dominated by domestic mobile payment systems like WeChat Pay and Alipay, making it difficult for international tourists to make cashless transactions. This partnership aims to bridge that gap by allowing foreign visitors to leverage their existing PayPal accounts.

Key facts

  • Tencent integrated PayPal payments into WeChat Pay's merchant network.
  • PayPal users can pay in China by scanning QR codes.
  • The integration connects PayPal's 400 million users to China's payment infrastructure.
  • This feature is initially available to US-based PayPal users.

China's payment landscape has historically been dominated by domestic mobile payment systems like WeChat Pay and Alipay, making it difficult for international tourists to make cashless transactions. This partnership aims to bridge that gap by allowing foreign visitors to leverage their existing PayPal accounts.

Frequently asked questions

PayPal users can pay in China by scanning QR codes using WeChat Pay's merchant network.

The service is initially available to US-based PayPal users.

It solves the payment problem for tourists in China by connecting PayPal's large user base to the widely adopted WeChat Pay infrastructure.

What Happens Next

01Expansion to more markets beyond the US for PayPal users.

Get the newsletter.

Pick the topics you actually care about. We'll email when there's news worth your time, on the cadence you choose. Cancel any time from your account.

Cadence

How It Developed

1 Jun · 6:36 PM
Tencent's WeChat Pay will allow US-based PayPal users to pay via QR codes in China, expanding payment options for tourists.
The Next Web via PiQSuite

Sources

T1
Tencent is letting PayPal users pay through WeChat's merchant network, solving China's tourist payment problemm.piqsuite.com

Related Stories

China Courts Nordic Nations Amid EU Trade Tensions
8 Jul · 7:30 PM
BYD Surpasses Tesla in Global EV Sales Amid China Market Crisis
8 Jul · 7:35 AM
South Korea's tourism vote nears 30,000 as campaign extends
8 Jul · 8:50 AM
China Plans 1,000-Satellite Network to Watch Over Central Asia
8 Jul · 7:20 PM
China's EV Boom Strains Auto Tax System, Threatens Road Funding
9 Jul · 1:05 AM