🕊 The U.S. fintech Stripe 🇺🇸 integrates the Chinese payment service WeChat Pay 🇨🇳

🕊 The U.S. fintech Stripe 🇺🇸 integrates the Chinese payment service WeChat Pay 🇨🇳
Stripe, the platform founded by the Collison brothers, will begin accepting payments via Weixin Pay (the official name of the wallet) in 20 countries. Until now, the service was available only for online transactions—and even then, not universally.

➡️ The countries benefiting from this integration include Australia 🇦🇺, Canada 🇨🇦, France 🇫🇷, Germany 🇩🇪, Italy 🇮🇹, Singapore 🇸🇬, the UK 🇬🇧, and the U.S. 🇺🇸. Users in these regions will be able to make purchases with WeChat Pay both online and in physical stores.

➡️ Context: Weixin Pay is part of the Tencent ecosystem. The wallet has over one billion active monthly users. Outside of mainland China, Tencent aims to cater to the global Chinese diaspora (over 50 million people), making its target audience quite broad. Through physical sales via Stripe Terminal and devices like the Stripe Reader S700, the U.S. platform expects to attract merchants serving this demographic.

➡️ The agreement also includes support for the Tencent Global Gift Pack Mini program, allowing brands to interact more specifically with Weixin users through the app.

➡️ These new features aren't just limited to commerce but also extend to other services. For instance, Torrens Universityin Australia uses Stripe to process tuition payments for Chinese students, while the Asian food delivery platform HungryPanda has expanded its customer base in the UK thanks to Weixin Pay.

This integration follows a longstanding collaboration between both companies that began in 2017.

#news #USA #Europe #Australia #world #China

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