![]() ![]() Payment is made at the point of sale, and the shopper receives the item right then. This saves time for shoppers and can allow the business to be cashless. WeChat Pay is also used by brick-and-mortar businesses in China. Imagine if you were paying your friend for gas, but you had to confirm that you received an item or service for your friend to withdraw the money. But this concept would be a bit silly for a chat-based payment service. Payment is released to the seller when the item is received. The money is transferred securely, but it works differently than other online payment methods.įor instance, eBay uses escrow payments to make sure the buyer gets the item that was described. Payment capability was added mainly for the purpose of friends and family sending money to each other. ![]() In addition to being the largest social network in China, WeChat provides banking services, connection to rideshare apps, gaming services, and even connects people with food delivery. These friend-to-friend payments are private and aren’t regulated like traditional e-commerce payments. Transactions on WeChat Pay are exchanged between people behind digital closed doors and fall under the “private commerce” umbrella. But WeChat Pay gives counterfeits a safe haven. ![]() Lately, they’ve been cracking down on the presence of counterfeits on the open market. Buying and selling through messaging apps is likely to greatly complicate online brand protection.Ĭhina has long been home to counterfeit operations.Instagram and Whatsapp are playing catch-up and now offer their own payment systems.WeChat, the dominant messaging app in China, has an in-app payment system that can facilitate counterfeits.Both are making moves to support in-app shopping and payment capabilities – so what does this mean for brand protection? WeChat is a monolith in China – a holy grail of network apps, and Instagram and Whatsapp are under its spell. ![]()
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