WeChat to launch a new POS Payment: WeiPOS
Wechat is now offering a new payment service. Offline stores could soon use a customized POS machine that completed with Wechat payment, could allow its users to buy an offline (physical) product through an online payment service.
How does it works?
When buying something in a physical store, the merchants types the total amount in the WeiPOS machine that will then generate a QR code. The consumer will scan this code using WeChat and will be redirected to Wechat payment to confirm the transaction. The 1000 yuan POS machine named WeiPOS is released by WeiPass, Tencent’s mobile e-commerce solution provider and will be given for free to merchants. The service will charge a commission rate for each transaction but it is said that this cost will be lower than UnionPay’s.
Developped par Tencent’s Tenpay, WeChat Payment is a mobile payment solution. When a consumer wants to buy a product in Yixun for instance (online shopping website acquired by Tencent ), he has the possibility to select the “WeChat payment” option. With WeChat payment you can do things as diverse as topping up your mobile phone account, purchasing goods on Yixun, paying for taxi rides or stickers, …