Tencent Expands WeChat Pay to Include PayPal for Foreign Tourists
Tencent said the feature will start with U.S.-based PayPal users as foreign-traveler transactions rose nearly 80% in January-April, it said.
- Tencent announced that U.S.-based PayPal users can now make cashless payments in China using WeChat Pay's merchant network via QR codes, targeting foreign tourists.
- Gary Ng, senior economist for Asia Pacific at Natixis, said integrating payment platforms through mutually recognized cross-border QR codes has become a global trend.
- Transactions by foreign travelers in China jumped nearly 80% year-on-year in January-April, while over 35 million foreigners visited China last year.
- Ivan Su, senior equity analyst at Morningstar, noted the initial impact may be limited due to low U.S. traveler volumes, while Tencent offers transaction fee waivers for first-time users.
- Tourism contributed more than 4% of China's economy in 2024, prompting the government to expand visa-free access to travelers from countries including Australia and Spain.
23 Articles
23 Articles
Tencent Expands WeChat Pay to Include PayPal for Foreign Tourists
Tencent announces that PayPal users can now use WeChat Pay for cashless transactions in China, starting with US users. This initiative aims to facilitate easier payments for foreign visitors and boost tourism, aligning with China's efforts to attract more international tourists.
China's Tencent to allow PayPal payments through its WeChat networks
Chinese tech giant Tencent is enabling PayPal users to pay with QR codes across China through its WeChat Pay network. This move aims to attract more foreign tourists by simplifying cashless transactions. Initially available to US PayPal users, the feature will expand to other markets.
The Record
INTELLINEWSIn a tourist-friendly move, China’s Tencent to allow PayPal payments through its WeChat networks
HONG KONG (AP) — PayPal users will be able to make cashless payments in China using QR codes through Tencent's WeChat Pay’s extensive merchant network, the Chinese technology giant says, in a move calibrated to attract more foreign tourists.
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