The Tencent-owned WeChat is undoubtedly one of those names that anyone from Banking, Financial Services, or FinTech backgrounds would be familiar with. We had written about WeChat in an article titled “The FinTech Story of WeChat.” In this article, we dive into more detailed statistics. WeChat has three major offerings: a messaging portal, a wallet, and a third-party application. The chat feature has text messaging and integrated video and voice calls. WeChat’s wallet enables its users to pay bills, recharge mobiles, online purchases, and money transfers. The third feature is third-party services, which are called “mini programs,” which are stripped-down versions of native apps with only core features in exchange for smaller sizes and quicker access to subscriptions, online shopping, flight booking, etc. |
