It is also a super app, meaning that it also has countless other features that allow users to hail a taxi, get a credit card and even buy insurance. What are Alipay and WeChat Pay? What is Alipay?Īlipay is a payment app and e-wallet, allows users to send and receive money easily without using cash. In this post, FinFan will share with you the definitions of Alipay and WeChat Pay, how they work, and the difference between them. It does not store any personal data.Alipay and WeChat Pay are the 2 biggest mobile payments in China. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. businesses have started accepting Alipay. WeChat Pay and Alipay both boast in excess of 900 million users and outbound travelers have proven increasingly keen on maintaining spending habits while venturing abroad with research showing consumers spend more often and more frequently when available. Executive Order Addressing the Threat Posed By Applications and Other Software Developed or Controlled By Chinese Companies, January 5, 2021īeyond negatively affecting Chinese-Americans who use the apps and their services to socialize and conduct business in China, the Trump ban would have a substantial impact on Chinese outbound tourists and the destinations, attractions, and brands that have integrated WeChat Pay and Alipay to facilitate Chinese payments. “The United States must take aggressive action against those who develop or control Chinese connected software applications to protect our national security.” “The United States has assessed that a number of Chinese connected software applications automatically capture vast swaths of information from millions of users in the United States, including sensitive personally identifiable information and private information, which would allow the PRC and CCP access to Americans’ personal and proprietary information. The Trump administration’s attack on Chinese tech giants and their products follows on from an aggressive China policy that has levied tariffs on a broad range of goods and waged a trade war. The move prohibits transactions with entities or individuals that “develop or control” these platforms and will come into effect after 45 days, barring any injunctions raised in court.Įnacted on the grounds of protecting national security (amid claims Chinese technology apps offer gateways for spying), the move dovetails with efforts in mid-2020 to block ByteDance’s short-video sensation TikTok and Tencent’s everything app WeChat - ones that have thus far been thwarted in court. The other apps are QQ Wallet, SHAREit, Tencent QQ, VMate, CamScanner, and WPS Office. The apps targeted include China’s two largest payment platforms Alipay and WeChat Pay, owned by Alibaba and Tencent respectively. President Trump signed an executive order banning eight Chinese applications on January 5. Jing Culture & Commerce has extensively covered the Trump administration’s pursuit of Chinese technologies.
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