A Brief Introduction to WeChat Pay

WeChat Pay is an in-app payment feature that allows all WeChat users to pay for transactions quickly on their mobile phones. It’s fully optimized for online and offline businesses and aims to offer more opportunities soon. WeChat Pay is now available in Mainland China, Hong Kong, the U.S., South Africa and will be expanding to other regions soon.

Here, we’ll mainly talk about WeChat Pay for mainland China, namely for vendors based in mainland China who are targeting customers based in mainland China.

1. Different types of WeChat Pay

i. In-App Web-based Payment 公众号支付

If businesses push product messages to their followers via their official WeChat account, with WeChat Pay enabled, their followers can purchase the products on the brand’s WeChat shop page.

So, when users purchase directly within WeChat, such as ordering food delivery or booking a movie ticket, they can complete the transaction without leaving WeChat. In-App Web-based payments are suitable for payments within official accounts, on Moments pages and on chat pages.

Below is an example of an In-app payment procedure for food delivery:

This function is only available for service accounts, corporate accounts and government/media subscription accounts.

ii. In-App Payment APP 支付

Vendors can use WeChat Pay’s SDK to integrate WeChat Pay into their apps. When users make payments in other apps, WeChat is authorized to process the payment. Once the transaction is done, the user is returned to the other app.

For example, if users make a purchase on an external e-commerce platform app on their mobile device, they can choose to pay via WeChat on the payment page.

Below is an example of a WeChat payment on an e-commerce platform:

iii. QR Code Payment 扫码支付

Vendors can create QR codes for different items. After users scan these codes, they can see related product information and transaction guides on their phone.

QR code payments can also be used for payments processed on websites viewed on computers. On a laptop or desktop computer, after being directed to the payment page and choosing to pay via WeChat, the merchant will generate a special QR code for users to scan to pay.

Below is an example of QR code payment procedure on a website viewed on a computer:

This function is only available for service accounts, corporate accounts and government/media subscription accounts.

iv. Quick Pay 刷卡支付

Vendors scan the payment code shown by customers on the Quick Pay page to finish transactions quickly.

For example, when users purchase in offline stores, they can show the payment code (a bar code and a QR code) in their WeChat Wallet for vendors to scan. The payment will be processed automatically. Quick Pay is suitable for offline vendors like supermarkets and convenience stores where the payment is processed face to face with customers.

Below is an example of Quick Pay procedure (purchasing in a supermarket or convenience store):

This function is only available for service accounts, corporate accounts and government/media subscription accounts.

v. Weixin Checkout 微信买单

WeChat helps vendors to generate QR codes for WeChat payments. Then they can print the QR code and post it in their stores. This allows users to scan it to pay when purchasing. Weixin Checkout is suitable for vendors who don’t have programming and development skills.

Below is an example of a Weixin Checkout procedure:

2. “Follow the account after payment”

WeChat Pay is also a good way to direct vendors’ offline traffic to an Official WeChat Account by using the “Follow the account after payment” function.

This setting isn’t automatic and the settings for different payment types are different. Note the following:

  1. It’s the default setting for Quick Pay.
  2. In-App Web-based Payment and QR Code Payment can only activate this function when the payment is above 5 RMB.
  3. It’s only available to well-known brands if the “In-App Payment” method is being used.

Note that subscription accounts can’t access the “Follow after payment” default setting. For service accounts that have more than 500,000 followers, the system lets users decide whether to follow or not, in order to avoid the potential risk of overly influential official accounts.

3. Commission charges

Finally, it should be noted that WeChat charges merchants that use WeChat Pay a commission. The settlement interval (T+1/3/7) and commission rate (ranging from 0.10% to 1.00%) vary from industry to industry but most are charged 0.60%, with a settlement interval of T+1. Click here for more detailed information on WeChat Pay commissions.

Do you find WeChat Pay helpful? Will you plan to use WeChat Pay? Leave a comment below. We’d be happy to answer any questions you may have.

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Originally published at chozan.co on May 16, 2017.