WeChat and Alipay Open Doors for Foreign Credit Cards: Ease for International Tourists in China
Portfolio Pulse from Anusuya Lahiri
Tencent Holding Ltd (TCEHY) and Alibaba Group Holding Limited (BABA) fintech affiliate Ant Group have extended support for linking international credit cards to their platforms, WeChat and Alipay respectively. This move is aimed at providing greater convenience for foreign tourists and expanding the usage of WeChat Pay and Alipay in China's market. Visa Inc (V) and Mastercard Inc (MA) are the credit card companies involved in this initiative.
June 28, 2023 | 3:29 pm
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POSITIVE IMPACT
Alibaba's fintech affiliate Ant Group's Alipay platform will allow Mastercard cardholders to link their cards, potentially increasing the usage of Alipay.
The move to allow linking of international credit cards to Alipay could increase the usage of Alipay, potentially boosting Ant Group's and indirectly Alibaba's revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Mastercard's cards will be linkable to Ant Group's Alipay platform, potentially increasing the usage of Mastercard cards.
The move to allow linking of Mastercard cards to Alipay could increase the usage of Mastercard cards, potentially boosting Mastercard's revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Tencent's WeChat platform will soon allow overseas users to link their Visa credit cards, potentially increasing the usage of WeChat Pay.
The move to allow linking of international credit cards to WeChat could increase the usage of WeChat Pay, potentially boosting Tencent's revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Visa's credit cards will soon be linkable to Tencent's WeChat platform, potentially increasing the usage of Visa cards.
The move to allow linking of Visa credit cards to WeChat could increase the usage of Visa cards, potentially boosting Visa's revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 75