Alipay launched the mobile phone account payment service on June 18, 2012
was informed that WeChat paid the online “transfer to mobile phone number” function.
Before using the “Transfer to Phone Number” function, the user needs to enable it on the Payment Management page under the “I-Pay-..” path. Use permissions. When this feature is turned on, it will appear on the Payments page – transfer money to your bank card or mobile number. At this time, users do not need to add the other party as a friend, just enter the mobile phone number bound to WeChat, you can transfer directly to the other party WeChat change. The other party needs to open the payment notification in the “Receipt payment / transfer to bank card or mobile phone number / mobile phone number collection settings”.
It is reported that the current iOS version of WeChat has launched this feature, Android version has not been found.
From the perspective of the timeline, Alipay will launch a mobile account transfer service earlier than WeChat Pay.
Alibaba launched the mobile phone account payment service on June 18, 2012. Even if the payer does not know the other party’s Alipay account and bank account number, as long as they know the other party’s mobile phone number, they can initiate payment. At the same time, the payee can receive the payment by simply replying to the SMS. At the time, this service was also called “super transfer.” In addition, if the payee does not have an Alipay account, he will receive a reminder message from Alipay, and the transfer can be completed by simply replying to his bank card number.
Alipay launches mobile phone number payment service (Tencent technology with map)
WeChat payment launched the transfer function to mobile phone number after 7 years, which is not unrelated to the current fierce competition with Alipay.
Compared with a few years ago, with smartphone salesSlowing down, the growth rate of mobile payment products attached to mobile phones is not so fast. The industry generally believes that mobile payment has entered the post-mobile payment era. “WeChat pays more than 1 billion daily transactions, connecting 50 million individual merchants and merchants. At the same time, WeChat payment has penetrated into 36 major industries and more than 100 sub-sectors. WeChat payment was once opened in “88 media “Day” reveals the data. For WeChat payment and Alipay, which have a large market share, the next competition will focus more on fine-grained operations.
In addition to the transfer function to the mobile phone number, WeChat also launched WeChat payment points, similar to Alipay’s Sesame Credit; there are also reports that WeChat payment will launch a credit payment product “payment”, similar to ant flower. Alipay has 1.2 billion global users. WeChat has exceeded 800 million users in the end of 2018, and more sophisticated services will bring more users and transactions to the two companies.
In addition, financial technology has become a large independent income item in Tencent’s financial report, in which payment accounts for a large share of this revenue, so it needs a more complete product closed-loop to provide services to users.
It is reported that Tencent has established four main lines of wealth management, payment, securities and innovative finance, including Li Cai Tong, Tencent Micro Gold, WeChat Payment, QQ Wallet, Tenpay, Tencent Micro Securities, Tencent Credit, Tencent Financial cloud, Tencent blockchain, Tencent credit card repayment, life insurance, mobile phone recharge and other services. In this service chain, there is still a lack of consumer finance. There is no need to add a friend and bank card transfer service, which will make it easier for users to trade.