Despite its many advantages, WeChat Pay is not without its limitations. One of the main issues is that it can only be used to pay for online purchases; you cannot use it to take out cash, pay bills or complete bank transfers.
Furthermore, while WeChat Pay is accepted by many merchants, it is not accepted everywhere. It is important to check beforehand if a shop is accepting WeChat Pay before you try to make a purchase.
When it comes to using WeChat Pay, you do not have to worry about paying any setup fees or monthly account maintenance fees. However, when making a payment, you will be charged a certain fee for each transaction. This can be anything from 1.70%–3.50% depending on the merchant. Furthermore, if the payment is done in a different currency, you may also be required to pay an exchange fee.
Setting up your WeChat Pay account is easy. You will need to link a Visa or Mastercard debit or credit card. You will also have to provide some basic information such as your email address, a profile picture, a password and a phone number. Once this is done, you will be ready to make payments using WeChat Pay.
WeChat Pay is a secure, convenient payment service that is rapidly becoming more popular in Mexico. It has many benefits and very few drawbacks. It can be used for easy online purchases, and there are no setup or account maintenance fees. Setting up an account is simple and all you need is a Visa or Mastercard debit or credit card.