Having access to the payment code, a fraudulent seller can debit any amount from the customer’s account at any time without notifications.The buyer does not see the amount until it is debited.
#Tencent wechat wechat pay 800m code
The user opens his WeChat account on a page with a personal payment code (containing an 18-digit code or QR code), a merchant, by reading this code, declares the amount determined by him from the customer’s account. WeChat Pay support major currencies including but not limited to GBP, HKD, USD, JPY, CAD, AUD, EUR, NZD, KRW settlement WeChat payment solutions Last year, Western Union brought global money transfers to the forefront, giving WeChat users in the United States the ability to distribute funds within 200 countries and territories through a messaging service. WeChat Pay is also gaining popularity in Western Europe and the USA. Those clients, who tie credit cards can only make payments, not to top up a balance. Customers can top up cell phones, tie WeChat personal accounts with debit cards, or get transfers from other users. WeChat Pay is an e-wallet service, embed in a personal account of each user of WeChat application that allows providing mobile payments in online stores, and share funds between accounts. This application is widely spread not only in China, among the covered countries are Japan, the USA, European countries. Nowadays, the number of active users is more than 1 billion. Only after a few years, it has reached more than 400 million users worldwide.
In 2011, the leader of China internet technologies Tencent presented a free social network WeChat.
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