Chinese internet and mobile services firm Tencent's (0700.HK) WeChat mobile messaging app has revealed a new overseas open platform for its WeChat Pay in-app payment tool, which was announced at a press event in Tokyo. The company said that it will lower the WeChat Pay entry threshold for overseas business users.
Overseas merchants and service providers will be able to submit application materials online, receive a confirmation e-mail, and sign a service contract online to begin using WeChat Pay. Applicants can also use the open platform to look up authorized overseas institutions and service providers that have partnered with WeChat Pay.
The WeChat Pay team also announced a new cross-border payments product called "We Plan," which expands support for overseas business users and service providers in five areas, including application guidance and product development, as well as material, marketing, and technology support. Product development includes membership, vouchers, public accounts, and in-app advertising services.