WeChat v5.0 to Overhaul Public Accounts, Add Payment Features
TechWeb, 7/03/13
Lake Zeng, Product Director for Chinese internet and mobile services firm Tencent (0700.HK), announced at the Tencent Partners Conference today that v5.0 of the company's WeChat (Weixin) mobile messaging application will institute a new distinct channel within the app for WeChat Public Accounts, as well as launch payment features.
Zeng has stated that, in order to prevent WeChat Public Accounts from spamming regular users, the new version will be divided into Reader Subscription Accounts and Service Accounts. Reader Subscription Account users may only send one mass message per day, with no access to push notifications, and will have messages indexed in a separate folder for subscription accounts. Service Accounts face even stricter limitations, with only one message allowed per month, but messages may be sent through push notification, and will display in users' main conversations window.
WeChat v5.0 will introduce a payment feature developed by a team from Tenpay, Tencent's third-party online payment platform. The feature will allow for purchases and payment to be made from within the WeChat mobile app, and is directly linked to the Tenpay payment platform. China Unicom (NYSE: CHU; 0762.HK; 600050.SH) is testing mobile account charge services using WeChat's new payment feature.
A source close to Tencent has stated that WeChat will soon launch a multimedia open platform, and will invite traditional media and individual bloggers to join.
Editor's Note: For more background on this topic, please see "WeChat to Reorganize Public Accounts, Add E-Commerce Features" MD 6/07/13 issue.
Keywords: m-commerce mobile payment wireless Tenpay Tencent 0700.HK WeChat e-payment Lake Zeng mobile application mobile IM
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