Users only need to link a bank card to WeChat and complete identity authentication to turn their smartphones with WeChat App into an all-purpose wallet. They can then purchase goods and services from partner merchants. When paying, users only need to enter their password on their smartphones. Payment can be completed without any card swiping steps. The whole process is simple and smooth.
(1) Support payment scenarios. WeChat public platform payment, App (third-party application store) payment, QR code scanning payment, card payment, or users display the barcode and the merchant scans it to complete the payment.
(2) WeChat payment supports credit cards issued by the following banks: Shenzhen Development Bank and Ningbo Bank. In addition, WeChat payment also supports debit and credit cards issued by the following banks: China Merchants Bank, China Construction Bank, China Everbright Bank, China CITIC Bank, Agricultural Bank of China, China Guangfa Bank, Ping An Bank, Industrial Bank, and China Minsheng Bank.
(3) Lower the threshold for opening a store. On September 13, 2014, in order to provide more users with the WeChat payment e-commerce platform, WeChat service accounts will no longer charge a 20,000 yuan deposit when applying for the WeChat payment function, which lowers the threshold for opening a store.
(4) Credit cards can accumulate points. In August 2018, WeChat payment announced the launch of a bank credit card points service. Users can bind credit cards through WeChat payment and swipe the cards to make purchases, and they can earn the same points as physical cards.