Tencent links PayPal to WeChat Pay network, enabling US users to spend across China

PayPal Holdings, Inc.

PayPal Holdings, Inc.

PYPL

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BEIJING, May 27 (Reuters) - U.S. PayPal users can now make purchases across China using WeChat Pay's QR-code merchant network, Tencent Financial Technology said on Wednesday, adding the service will be rolled out to PayPal users in other markets in phases.

  • Tencent's cross-border payment platform TenPay Global is now connected to PayPal World, Tencent Financial Technology vice president Daniel Hong said, according to a company social media post.

  • The company is offering incentives to encourage the use of foreign bank cards linked to WeChat Pay, including temporary fee waivers through 2026.

  • It will also expand language support and on-the-ground assistance for international users in Shenzhen ahead of the Asia-Pacific Economic Cooperation (APEC) meeting in November.

  • Ant Group's Alipay and Tencent's WeChat Pay dominate China's digital payments market, underpinning everyday transactions across retail, transport and services in the world's largest mobile payments market.


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