WeChat launches e-wallet, offers free Money Packets


  • TECH
  • Monday, 20 Aug 2018

Users can transfer money from their WeChat accounts to their local bank accounts .

WeChat users can now pay using their app with the roll out of its e-wallet component, WeChat Pay My.

“As Malaysia embraces the digital economy, we are excited to launch WeChat Pay My, which aims to facilitate the development of the Malaysian market by introducing local users and businesses with a simple, secure and convenient mobile payment experience,” says Tencent International Business Group vice president Poshu Yeung

To celebrate the launch, “Money Packets” will be given away to all WeChat users between Aug 21 and 28, it claims.

The Money Packet will be filled with a random amount ranging from RM3.88 to RM88.88, and a prepaid top-up coupon of RM2 will also be given away.

Money Packets is a peer-to-peer payment system that allows users to transfer money to others or a group with no service charge.

Poshu says that WeChat Pay My has received Bank Negara’s approval to act as an electronic money issuer, and has implemented security technologies that comply with international standards, including 24/7 real-time monitoring of all transactions.

Other features include Quick Pay which allows users to generate a QR code that merchants can scan to pay for a transaction and Debit Card Binding which lets users associate multiple cards to top up their e-wallet.

Users can also withdraw money from their accounts by transferring it to their local bank accounts as long as it doesn’t exceed RM10,000 a month.

WeChat is a social communication platform developed by China’s Tencent Holdings Ltd.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Tech News

Cost of crypto: Report says US bitcoin as dirty as six million cars
Hackers leak French hospital patient data in ransom fight
Bitcoin bounces above $20,000 for first time in about a week
Crypto fugitive Do Kwon says he isn’t hiding from authorities
With a gamer prince and oil billions, Saudi turns to esports
Grab expects to break-even on adjusted EBIDTA by H2 2024 - CFO
Crypto exchange FTX to acquire bankrupt Voyager's assets
If you are a ‘cloud’ specialist, Switzerland may be the place for you
‘A new era’: Nasa strikes asteroid in key test of planetary defence
Optus, Australian govt clash over cyber attack amid reports of hacker retreat

Others Also Read