Mobile payments have shaped the way consumers spend online in the Chinese market. It has opened a new window to seamless and reliable payment methods and the technology improvements have greatly facilitated the consumer’s spending habits online. With the launch of WeChat Pay, there has been significant competition in the world of online payments with Alipay possessing just 54% of the market share as oppossed to a strong 80% share before 2015. By staying ahead of the mobile landscape and social experiences WeChat has emerged as the next big thing in mobile payments with WeChat Pay.
With WeChat’s increasing wins and an exponential rise in user base there are now multiple opportunities for brands to leverage WeChat Pay.
Stay in touch with your customer and collect relevant data
One of the best advantages of opening a mobile payment portal is the connect you establish with customers during a purchase. The user automatically is added as a follower of the WeChat account once the purchase is made and is broadcasted latest news and developments directly. This is also great for brands to establish effective targeting for customers and bring them customized product recommendations. This will be great for the overall brand recall and will boost sales.
Drive recurring purchases directly in WeChat
A simple and effecting user interface is key to driving sales in this era. To heighten the experience of the consumer, brands must be able to provide them the right user experience and flow which will in turn help in seamless online transactions in a matter of a few clicks. A great way would be to integrate the WeChat Pay into it’s WeChat store for better optimisation and convenience for the customers. A customer that is comfortable and happy navigating through the interface, is more likely to make a purchase.
Increase your online revenue
WeChat Pay has opened a new door for brands to enhance their digital presence and offer their consumers a more reliable and simple way to indulge in online transactions in the comfort of their favourite mobile applications that they use every day. WeChat is growing its user base exponentially and the addition of the WeChat Pay and the integration of this in the WeChat stores of the brands is expected to boost sales rapidly for brands.
It is imperative that brands must leverage this opportunity and provide the best consumer experience to their audience in the WeChat application across China.