Tencent links PayPal to WeChat Pay network, enabling US users to spend across China
Tencent links PayPal to WeChat Pay network, enabling US users to spend across China BEIJING, May 27 (Reuters) - U.S. PayPal users can now make purchases across China using WeChat Pay's QR-code merchant network, Tencent Financial Technology said on Wednesday, adding the service will be rolled out to PayPal users in other markets in phases.
Tencent's cross-border payment platform TenPay Global is now connected to PayPal World, Tencent Financial Technology vice president Daniel Hong said, according to a company social media post.
The company is offering incentives to encourage the use of foreign bank cards linked to WeChat Pay, including temporary fee waivers through 2026.
It will also expand language support and on-the-ground assistance for international users in Shenzhen ahead of the Asia-Pacific Economic Cooperation (APEC) meeting in November.
Ant Group's Alipay and Tencent's WeChat Pay dominate China's digital payments market, underpinning everyday transactions across retail, transport and services in the world's largest mobile payments market.
(Reporting by Shi Bu and Liz Lee. Editing by Mark Potter)
((Shi.Bu@thomsonreuters.com;))
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