Wondering how to use WeChat for your business?
The super app is the single largest social network in China, and it’s gaining momentum elsewhere, too.
In China, where the majority of WeChat users live, the platform is known as Weixin.
Everything App - Wechat
Weixin was first released as a messaging app in 2011 by parent company Tencent. It quickly grew into an “everything app,” connecting users to gaming, ridesharing, shopping, and even government services, along with friends and family.
So Powerful !
They can also synchronize their posts, called “Moments,” with Facebook and Twitter—social networks that are still banned in Mainland China (along with Instagram and YouTube). Nearby competitors include Japan’s Line and South Korea’s Kakao Talk. However, there’s also competition from Whatsapp and Tik Tok.
Many non-Chinese brands have used WeChat’s Mini Programs and platform features to break into the Chinese market. And now that you no longer need a Chinese business license to create an account, more businesses are expected to follow.
Although the overall time user spends on WeChat is decreasing, WeChat Mini Program’s monthly active users base grown 51.9% in just 6 months. By June 2019, WeChat Mini Program has 746 million monthly active users.
More than 1.1 billion monthly active users (MAUs) globally. For comparison, Facebook has 2.32 billion MAUs. However, WeChat achieved the one-billion MAU milestone one year faster than Facebook did.
How WeChat Pay so popular in China or Overseas Tour !
Mobile payments is one of those areas of contention. It’s a lucrative and high-growth market, growing more than 200 percent year-on-year during the fourth quarter of 2016, when it hit US$186 billion. Mobile payments are also a key access point to consumer data, especially in China, where more than half of online sales happen through a smartphone.