With the prevalent payment options in this growing cashless, mobile-first market, Lao Feng Xiang Canada is excited to announce that we now support WeChat and AliPay!
What is WeChat Pay?
Originally a messaging app, much like WhatsApp, WeChat has evolved into a social network and work communication tool – among many other things. Its payment entry started as a person-to-person money exchange service, which really became popular during Chinese New Year when it became a primary method for the giving of ‘red envelopes’ which resulted in the company processing 8 billion red envelopes in 2016! WeChat is also one of the world’s fastest growing social apps with hundreds of millions of users internationally.
Shoppers can connect their credit and debit cards to WeChat or load it up with money and not have to worry about the tightened foreign exchange restrictions that have been introduced earlier this year.
What is Alipay?
Similar to PayPal, Alipay is a payment platform used by individuals and businesses for making and receiving payments in a safer, easy-to-use, prompt way and has become the world’s leading mobile and online payment platform.
Launched in 2004, Alipay currently has over 450 million active users and completes over 175 million transactions PER DAY! It also currently supports 19 different currencies.