Looking at the numbers, which are fast surpassing the one billion mark, WeChat Pay is one of the most popular digital payment platforms. Founded in China, it is true to say that most of WeChat Pay users are located in China.
Compared to AliPay, its local competitor, despite being far ahead of the curve in Chinese markets, it is has been making some inroads into new markets. WeChat Pay has been striking new deals with foreign online casino operators from South Africa, Thailand, the Philippines, and other countries in the past few years to facilitate cross-border transactions.
WeChat’s popularity today is also anchored on its association with online casinos. Although online gambling is largely banned in China, plenty of casinos are still willing to accept WeChat payments. Foreign online casinos have been fast to grab a share of the over one billion WeChat users. This new development, along with the long-cherished tradition known as the “red envelope,” has been integral in seeing WeChat Pay transactions running into billions, especially during the holidays.
WeChat is currently available in Pakistan, Philippines, Malaysia, Japan, Macau, Nepal, Vietnam, UAE, Singapore, South Africa, Nigeria, Kenya, Ghana, Zambia, Namibia, the Americas, and Europe. Anyone can use this payment method provided the funds are loaded from a bank account funded in the Chinese Yuan. However, it remains that close to 90% of WeChat Pay’s transactions are completed from China.