The mobile payment market of China is moving much faster than that of the US. The payment methods have been revolutionized so much that it has come up far above web banking. We were so satisfied with the new web banking technology when it first became widespread, considering that this was it and couldn’t get any better. Who thought transferring money would be as easy as chatting with someone on your phone, or if you ever forgot your wallet at home, would you be able to buy a breakfast for yourself from the smallest of vendors? It is a definite possibility now, with the existence of payment apps like WeChat and others.
What wonders does WeChat do?
WeChat has a huge list of I-do list but this article is specifically focusing on features related to payment and fund transfer. WeChat pay is a mobile app that allows you to transfer money to people who are on your WeChat friend list. Moreover, you can pay your utility bills, buy movie tickets, book a cab, etc. all through one single app. It really is a social network connecting its huge population together.
How does it work?
WeChat has a feature by the name of “wallet”. You register your VISA card to your WeChat account. This is done in the following manner.
- Go to WeChat wallet
- Enter card number
- 6 digit PIN will be created for you
- Use this PIN for all the transactions you make via WeChat wallet
Next in line we have AliPay.
What is AliPay and which is better?
As the name suggests, AliPay is one solution to pay for goods and services that you buy online or even when you are on the move. It’s a global app used by 5% of the world’s population and becoming widespread across other areas as well. You need to get the unique AliPay code scanned and there onwards, your transaction is made.
Alipay is becoming a challenge to visa/master cards because for very obvious reasons, it’s better and easier to use.
Though Alipay and WeChat pay both are present for the same purpose, WeChat still stands out because it is primarily a messaging app with an additional feature of making payments and other monetary transactions. WeChat is using community building forums to reach their target. AliPay has been present in the market for about 10 years while WeChat is just five years old and is already a threat to the former.
Other technologies evolving in China are TenPay, SMS Pay and Baudu Wallet.
How APPTUTTi is playing Its role.
- Social Login/Sharing via WeChat, Weibo and QQ
- Ad placement feature
- Data mining
- Unity, Android and other engines
Isn’t it better to get an SDK package supporting all forms of payment gateways rather than integrating just a single payment tool in your app? It’s not a complicated process either because these features are built-in. Moreover, it is easier for foreigners too because quite certainly, not all the payment tools are functional in all the countries so the APPTUTTi’s SDK has offered their users a range to choose from in order to authorize payment between two parties.
video: Just a few clicks to cash out your Game or App earnings from China market!
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