![]() Even as they look to grow internationally, the emphasis has been on enabling merchants to accept WeChat Pay from Chinese tourists and cross-border e-commerce shoppers on a global scale. In contrast to American tech behemoths like Facebook and even other Chinese companies like TikTok, WeChat’s growth strategy is focused on domestic users. WeChat Pay has payment options for a number of different in-store and online scenarios, and along with Alipay, it’s one of the top mobile payment systems in China. It allows users to quickly make payments with their smartphones wherever they are and leave their physical wallets at home. While the fact that this feature is part of the larger WeChat app is unique, the overall digital wallet concept is similar to that of Apple Pay and Google Pay. WeChat Pay is a payment feature that is integrated within the WeChat app. This means there is no current ban on the use of WeChat Pay in the United States. Due to courts blocking the orders, they never took effect.Įarlier this year, current President Joe Biden withdrew these executive orders from his predecessor, although he did order a new commerce department review of WeChat and other Chinese apps to investigate any potential security concerns. In August 2020, former President Donald Trump issued controversial executive orders that attempted to block new users from downloading certain Chinese-owned apps like WeChat and TikTok, and also prevent the processing of WeChat Pay transactions for US citizens. So how does WeChat Pay work? And why should businesses based in the US offer WeChat Pay at checkout? WeChat Pay Ban: Where Things Stand Nowīefore we go over the nuts and bolts of WeChat Pay, you may have heard that WeChat and WeChat Pay were banned in the United States. In terms of reach, WeChat is comparable to Facebook, with 1.25 billion monthly active users as of 2021, and their digital wallet is similarly popular with Chinese consumers. Looking ahead, WeChat Palm Pay services are expected to be rolled out at offices, campuses, retail outlets, restaurants, and more.WeChat Pay is the mobile payment method founded by Chinese tech giant WeChat. The payment will be processed once the passengers have finished their trip. On the day of the release of palm payment, Beijing’s Daxing International Airport Line was the first to deploy the palm print recognition system, allowing passengers to access the subway trains of the line in a phoneless and cashless way. Image: īeyond methods of payment, “WeChat Palm” is also being extended to modes of transportation such as taxis and the metro. It is safer and more convenient under the premise that information is not leaked and used indiscriminately,” stated Wang Pengbo, chief analyst of Broadcom Consulting. “Biometric identification technology has the characteristics of not being easily forgotten, portable, and not easily forged from the perspective of the medium. Experts in the payment industry perceive palm recognition as a superior alternative to fingerprint authentication, offering enhanced convenience and a more comprehensive user experience for identity verification and transaction settlement. Moreover, the tech giant maintains that WeChat’s Palm Pay is a more user-friendly method of payment for personal information security because palm prints are more private than other biometric identifications and personal information cannot be confirmed solely through palm images. In fact, some netizens have questioned whether they would dare to wave their hands casually after palm payment becomes widespread.Īccording to Tencent, while the system involves the collection, processing, comparing, and storing of information on users’ palm prints and veins, relevant laws state that the service provider will delete the original samples and pictures of users’ palms once the needed information has been extracted.ĭouyin and Tencent Video enter content sharing agreement Much like other forms of identity authentication and payment methods, Palm Pay raises concerns about its security. On Weibo, the hashtag “WeChat Palm Payment Release” has garnered 6.72 million views in just 24 hours, sparking not only discussions of excitement but also scepticism of future security in terms of payment. The new payment method has stirred up great interest in Chinese social media. ![]() After scanning and uploading their palm print at the ticket machine, users can simply link the scanned prints to their personal phone number and ID via WeChat mini program and start swiping. This new technology, developed by Tencent’s AI lab YouTu, utilises both surface-level palm prints and distinctive vein patterns to authenticate transactions. With this new transaction method, users can bypass the need for a mobile phone and can complete the entire transaction with a simple wave of their hand. ![]() ![]() On May 21, Chinese tech giant Tencent introduced a new feature to revolutionise its WeChat Pay service – Palm Payment.
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