Wirecard now enables European retailers to accept WeChat Pay, a leading Chinese mobile payment solution, the company announced today.
WeChat Pay, along with Weixin, are part of Tencent, with WeChat Pay alone having more than 600 million active users.
In a release, Wirecard said the average Chinese tourist spends €3,000 on a European trip, with a heavy emphasis on luxury retail goods. The new mobile payment capability allows the visitors to pay in their preferred method.
“We are proud to be one of the first WeChat Pay partners for POS acceptance in Europe,” Wirecard EVP of mobile services Jörn Leogrande said. “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 expand our business and to offer WeChat Pay for customers all over Europe.”
Chinese tourists first open WeChat or Weixin app and go to the wallet feature. They then show their QR code on their phone to the retailer, who scans it to activate the payment process.
Wire card serves as the acquiring bank during the payment process and bundles the retailer’s transactions while also processing them together via the collecting model.