Digital wallets are omnipresent today. You’re probably wondering what drives their annual double-digit growth. Well, they’re convenient, secure, and simple to use. Yet, that’s not all the reasons. Social commerce stands out among numerous other factors, catalysing digital wallet adoption in a discrete yet powerful way.
From now on, Weixin Pay, a version of WeChat Pay, is available not only for online payments powered by Stripe but also for in-person shopping via Stripe Terminal in 20 countries.
PayPal’s money transfer service, Xoom, will enable Weixin Pay users to receive money directly into their Weixin Pay Wallet Balance or linked bank accounts through the partnership with Tenpay Global.
The 107% growth of the BNPL (Buy Now, Pay Later) users is expected to be fueled by the increasing efforts of superapps and banks to develop their own flexible loan offerings.
Payments get easier every day. As we dive into the exciting world of payment innovations, we will focus our attention on the ever-evolving landscape of contactless payments. One bright example of innovative biometric payments is the Palm Payments system currently tested by WeChat in China.
China’s major social networking and payment app WeChat has followed Alipay in adding support for payments using the digital yuan – the country’s central bank digital currency (CBDC)
A new study revealed that the volume of digital domestic money transfer transactions will exceed 300 billion globally in 2026
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