WeChat Rolls Out Mobile Wallet in South Africa: WeChat social messaging app founded by Tencent (Chinese e-commerce outfit ), has established a mobile wallet service in South Africa in joint venture with Standard Bank.
In WeChat Wallet, up to three chip and PIN credit or debit cards can be saved and used to load the cash balance of the app, pay for services on WeChat including food, electricity, airtime or pay SnapScan merchants.
On the other hand, under this new development, users can send cash to their friends through WeChat – without a bank account. Instant Money vouchers constitute the cash balance and this can be increased by means of traditional Instant Money channels.
In order to enable users to cash in and out at the ATMs of the bank in conjunction with Cambridge Food Stores and participating retailers Spar, WeChat has partnered with Standard Bank.
This service is another way that WeChat is amalgamating both the online and offline world, thereby offering people with flawless payment amalgamation in a single application. As all users need is at disposal or fingertips, they won’t be inconvenienced, even if they forget their money or purses at home.
The partnership is seen as part of the efforts of Standard Bank to maintain social importance with consumers in this dynamic world. This service gives clients the freedom to select how they will be fully in charge of their finances and gives them peace of mind as they know that they can do so safely, with the support of a banking brand that is dedicated to be available to them 24 hours a day and 7 days a week.