WeChat Pay

Weixin Pay
Developer(s)WeChat
Initial releaseAugust 5, 2013; 11 years ago (2013-08-05)
Operating systemAndroid
iOS
PlatformAndroid and iOS devices
Websitepay.weixin.qq.com/index.php/public/wechatpay_en

WeChat Pay, officially referred to as Weixin Pay (Chinese: 微信支付; pinyin: Wēixìn Zhīfù) in China, is a mobile payment and digital wallet service by WeChat based in China that allows users to make mobile payments and online transactions. As of March 2016, WeChat Pay had over 300 million users.[1] WeChat Pay reached 1.133 billion active users in 2023.[2] WeChat Pay's main competitor in China and the market leader in online payments is Alibaba Group's Alipay. Alibaba company founder Jack Ma considered the red envelope feature to be a "Pearl Harbor moment", as it began to erode Alipay's historic dominance in the online payments industry in China, especially in peer-to-peer money transfer. The success prompted Alibaba to launch its own version of virtual red envelopes in its competing Laiwang service. Other competitors, Baidu Wallet and Sina Weibo, also launched similar features.[3]

  1. ^ Sun, Eric (22 April 2016). "WeChat invests USD 15 M to support its service providers". AllChinaTech. Archived from the original on 24 April 2016. Retrieved 12 December 2017.
  2. ^ "WeChat statistics".
  3. ^ Cite error: The named reference fastco-redpacket was invoked but never defined (see the help page).