Hike messenger, a popular phone messaging service app in India, has recently decided to introduce payment services on its platform.
The payment service includes both peer to peer payments that do not require bank accounts and use in-app wallets, and bank to bank payments using the UPI platform introduced by the National Payments Corporation of India (NPCI). In doing this, Hike has emulated the services provided by WeChat, a Chinese messaging app owned by Tencent. The latter is also an investor in Hike. Such payments cater to both ad hoc requirements between app users, and special occasions such as birthdays or anniversaries on which people often send cash if they are not able to give a present.
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dLocal has announced that it supports payments through WeChat Pay, AliPay and Union Pay on its platform.
Together, the three online payments providers cover 70% of the Chinese market which had a value of USD 2.9 trillion in online payments in 2016. The new integration allows merchants on the dLocal platform to reach 300 million Chinese consumers.
The company’s payments platform supports over 200 local payment methods used in emerging markets in APAC, Latin America, Eastern Europe and the Middle East. dLocal supports local credit cards, cash payments, and bank transfers in each region. Merchants that accept payments through dLocal can enable WeChat Pay, AliPay, and Union Pay with just one click.
The cross-border ecommerce market in China is booming. According to Boston Consulting Group, Chinese consumers spent about USD 750 billion online in 2016 and the ecommerce market will continue to grow by 20% annually.
Paymentwall, a global payment provider, and Tencent have teamed up to make WeChat Pay available around the world.
WeChat Pay has over 600 million active users and processes USD 1.5 trillion in Chinese digital payments, which accounts for 30% of all online transactions made in 2016. Through the integration with Paymentwall, merchants in Europe, the US, Latin America, Southeast Asia and the Middle East will be able to process WeChat payments.
The payment provider supports over 150 payment methods around the world, and merchants can gain access to all of them through an API integration. Similarly, business owners do not have to establish an entity in China to accept payments through the Tencent app.
Paymentwall supports worldwide payments with credit and debit cards, mobile payments, e-wallets, bank transfers, prepaid cards and connects global transactions from 190 countries.