China CITIC Bank International Limited (the “Bank” or “CNCBI”) announced this week the launch of WeChat Pay on its WeChat Official Account (“OA”). CNCBI first launched its OA last October. Now CNCBI extends its offerings from instant banking services to WeChat Pay, becoming the first banking institution in Hong Kong to embrace this e-payment solution. Customers purchasing single-trip travel insurance packages from CNCBI via WeChat Pay will get a 50% premium discount, while they can enjoy the convenience of an innovative experience with a variety of banking services.
“CNCBI Travel Insurance Packages” via WeChat Pay is available for both existing and non CNCBI customers. All customers simply need to log onto their WeChat accounts and “follow” the CNCBI WeChat OA, tap the “Banking Services” icon on the CNCBI OA, then “Purchase Travel Insurance”. Customers will be redirected to WeChat Pay to settle the payment by VISA or MasterCard to complete the transaction.
WeChat has extended its features in South Africa with the introduction of the WeChat Wallet, a digital wallet service. Like a physical wallet, you can securely store your bank cards and make instant cash payments within WeChat with the new feature.
With WeChat Wallet, users can electronically send cash to friends and family, just like handing cash to a friend to get you lunch or pay for coffee or a drinks at the bar. You can now use up to three chip and PIN debit or credit cards in the WeChat Wallet. Transactions through the cards are verified by Visa and MasterCard security systems, can be saved in the WeChat Wallet.
Cards linked to the wallet can also be used to Cash In and increase your wallet’s cash balance, pay for services on WeChat such as airtime, data, electricity, food or pay SnapScan merchants. People can Cash In and Cash Out at Standard Bank ATMs, participating retailers, including SPAR, SPAR Tops and Cambridge Food Stores.
In addition, cash can be sent to friends via WeChat – even without the need for a bank account. When registering for the WeChat Wallet, users automatically become Standard Bank Instant Money users, which allows those without bank accounts to enjoy the benefits of the platform. Instant Money vouchers make up the cash balance, which can be topped up via Standard Bank self-service channels.
People can also Cash In and Cash Out via Instant Money Vouchers at Standard Bank ATMs and participating retailers, including SPAR, Cambridge, Rhino and Choppies Stores.