WeChat targets mobile wallet technology in South Africa

Tuesday, July 12, 2016

Messaging app WeChat is heavily focused on the take-up of its wallet technology in South Africa this year, says the app’s head of Africa Brett Loubser. WeChat, which is owned by Chinese internet giant Tencent, rivals competitors such as Facebook owned WhatsApp.

But the Chinese-built app has differentiated itself by enabling the development of apps within its ecosystem, such as local delivery service Picup, and payment technologies.

In November last year, WeChat South Africa launched its wallet tech which allows electronic cash transfers and the ability to transact via cards verified by Visa and MasterCard. This month, WeChat South Africa has partnered with Stuff Magazine to allow readers of the print title to buy featured Incredible Connection products by scanning a QR code via the app.

“If you like what you see, you scan a code, you pay for it with your WeChat Wallet, input your address and the product is delivered to your house,” Loubser told Fin24.

Source: mybroadband (link opens in a new window)

digital payments, fintech