WeChat Pay is used daily by Chinese citizens domestically and abroad, with over 800 million monthly active users. Even as they look to grow internationally, the emphasis has been on enabling merchants to accept WeChat Pay from Chinese tourists and cross-border e-commerce shoppers on a global scale. In contrast to American tech behemoths like Facebook and even other Chinese companies like TikTok, WeChat’s growth strategy is focused on domestic users. WeChat Pay has payment options for a number of different in-store and online scenarios, and along with Alipay, it’s one of the top mobile payment systems in China. It allows users to quickly make payments with their smartphones wherever they are and leave their physical wallets at home. While the fact that this feature is part of the larger WeChat app is unique, the overall digital wallet concept is similar to that of Apple Pay and Google Pay. WeChat Pay is a payment feature that is integrated within the WeChat app. This means there is no current ban on the use of WeChat Pay in the United States.
Due to courts blocking the orders, they never took effect.Įarlier this year, current President Joe Biden withdrew these executive orders from his predecessor, although he did order a new commerce department review of WeChat and other Chinese apps to investigate any potential security concerns. In August 2020, former President Donald Trump issued controversial executive orders that attempted to block new users from downloading certain Chinese-owned apps like WeChat and TikTok, and also prevent the processing of WeChat Pay transactions for US citizens. So how does WeChat Pay work? And why should businesses based in the US offer WeChat Pay at checkout? WeChat Pay Ban: Where Things Stand Nowīefore we go over the nuts and bolts of WeChat Pay, you may have heard that WeChat and WeChat Pay were banned in the United States. In terms of reach, WeChat is comparable to Facebook, with 1.25 billion monthly active users as of 2021, and their digital wallet is similarly popular with Chinese consumers.
The default local currency for WeChat Pay is cny and customers also see their purchase amount in cny.WeChat Pay is the mobile payment method founded by Chinese tech giant WeChat. You can create WeChat Pay payments in the currencies that map to your country. You will then need to arrange an alternative way of providing your customer with a refund. In the rare instance that a refund fails, the Refund object’s status transitions to failed and Stripe returns the amount to your Stripe balance. When a refund succeeds, the Refund object’s status transitions to succeeded. Stripe notifies you of the final refund status using the webhook event. Refunds for WeChat Pay payments are asynchronous. After 180 days, it is no longer possible to refund the charge. Payments made with WeChat Pay can only be submitted for refund within 180 days from the date of the original charge. Therefore, there is no dispute process that can result in a chargeback and funds being withdrawn from your Stripe account. WeChat payments have a low risk of fraud or unrecognized payments because the customer must authenticate the payment via the WeChat Pay app.
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If your integration requires manually listing payment methods, learn how to manually configure WeChat Pay as a payment. The following Stripe products also support adding WeChat Pay from the Dashboard: Checkout, a prebuilt, hosted checkout pageĪfter setting up your payment form, activate the payment methods you want in the Stripe Dashboard.Follow a quickstart for one of our hosted UIs: If you use our front-end products, Stripe automatically determines the most relevant payment methods to display. You don’t actually have to integrate WeChat Pay and other payment methods individually. Partial (request an invite to create charges on behalf of other accounts) Chinese consumers, overseas Chinese, and Chinese travelersĬNY, AUD, CAD, EUR, GBP, HKD, JPY, SGD, USD, DKK, NOK, SEK, CHF (depending on business location)
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