WeChat is China’s largest social media and lifestyle platform, and its subdivision WeChat Pay is coming into Singapore. From April, you will be able to pay your ComfortDelGro taxi rides with the payment method.
The biggest drawback that prevents us from using it will be that, WeChat Pay only allows you to link your payment method to a Bank account you had opened in China.
It currently does not supports banks in Singapore.
This move made by WeChat will mostly benefit the Chinese tourists, and some frequent visitors to China who had opened an account there previously.
Ms Grace Yin, operation director of WeChat Pay International Business shared that they are targeting the business users first to bring Tencent’s service via this platform, to Singapore’s market.
“Our focus is to target the businesses and merchants that service the Chinese tourists,” she said, citing partners including Changi Airport, and various stores located in The Shoppes by Marina Bay Sands.
She also indicated that they will be expanding their reach to more stores, but did not disclose more details.
Similarly, Alipay had launched its service into the Singapore market, also targeting the taxi companies.
But they did not gain much usage, mainly due to the same restriction that is happening to WeChat Pay.
To most Singaporeans, Whatsapp and Telegram are their go-to chatting app due to their market dominance in the local market.
We will have to see if they will ever dominate Singapore’s digital payment scene before other local apps, such as GrabPay or PayNow, succeeds first.