WeChat Pay is a newly released feature to the popular and ever-growing WeChat application. WeChat has over 650 million monthly active user accounts and now these users have the option to pay through this platform. The WeChat Pay payment feature allows its users to make payments by Quick Pay, QR Code Payments, and In-App Web-Based Payments. The payment service is primarily focused for payments via mobile devices which is handy for traders constantly on the go. WeChat Pay is primarily used by Chinese customers, although the payment solution is available all over the world with the support of all the major currencies. There is no need for bank accounts or credit/debit cards with a WeChat wallet, users can simply load their wallet via other means such as prepaid cards or via other mobile wallets.show more
WeChat Pay users enjoy a variety of payment method for deposits. Although, depending on the brokerage, users may be limited to just one of the payment methods. To learn how to make deposits via each method, see them outlined in the methods below.
In App Web Based Payment – This is the most common method of payment among WeChat users. When making a deposit, users will just need to enter in a 6 digit code or scan their fingerprint when the WeChat Pay method is selected from the brokerages available deposit methods.
QR Code Payment – Online trading brokerages that utilize this method of payment will have generated QR code which is linked to the amount you are depositing. All the trader needs to do is scan this code with their WeChat Pay App and their deposit will be completed.
In App Payment – Brokerages can choose to integrate WeChat Pay directly into their trading platform for the ease of depositing funds. With this method all you need to do is select WeChat Pay from the deposit options, enter in the amount you would like to deposit, type in your WeChat Pay password and the transfer is completed.
Convenient – Depositing funds through WeChat Pay is very easy and convenient. There are minimal steps involved for making deposits and they can be completed within seconds. As well, WeChat Pay was designed specifically for mobile payments which shows with their ease and simplicity of payments.
Worldwide Acceptance – WeChat Pay has a built in cross-currency settlement feature which converts the currency being transferred into the local currency or currency that’s accepted. As well, WeChat Pay can be used with a number of currencies and merchants and brokerages from around the world.
Fast & Reliable – Deposits with WeChat Pay are nearly instant as processing times are typically within seconds. Depending on where the trading brokerage is located, payments may vary in acceptance time.
Safe & Secure – WeChat Pay does not release any of your personal or financial information when making transactions. As well, WeChat Pay utilizes the latest technology in fraud prevention and data encryption for security.