WeChat Pay expected to be every shop in China within two years, says Tencent executive

Tencent
Tencent company name is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip

An executive at Tencent Holdings Ltd, China’s biggest social media and online entertainment company, said on Friday he expects its mobile messaging app WeChat to provide electronic payment services in every Chinese shop within two years.

Tencent Vice-President Zhang Ying, who is also General Manager of WeChat Pay, made the comments at an industry conference in Hong Kong.

WeChat has more than 889 million monthly active users, according to Tencent’s annual report.

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Reuters