WeChat Tests Family Member Virtual Credit Card Payment Function

Lieyunwang, 6/12/18

Tencent's (0700.HK) WeChat mobile messaging app has added a "kinship card" function to its in-app mobile wallet. Users can issue the virtual credit cards to their parents or children and bear the responsibility of covering mobile payments. However, because the function is still in gray-box testing, the vast majority of users do not have access to it yet.

When the kinship card is used, the funds are automatically deducted from the underlying account. The issuer can set a monthly spending limit between RMB 0.01 and 3,000, which is automatically extended to the next month. The user enters the payment PIN, hits send, and once the receiver clicks on the card, it is ready to use. The issuer can check spending history and change the spending limit at any time.

Keywords: wireless Tencent mobile wallet 0700.HK WeChat mobile payment

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily