(March 19, 2019) WeChat Pay released a Multidimensional Strategy at the 2019 WeChat Pay Partner Conference., to provide partners with clear guidance and directions, covering different industries and their operations.
WeChat Pay is committed to providing a wider spectrum of products, stronger hardware and data marketing capabilities to partners, linking service providers and diving into the industry, so as to better assist enterprises and businesses in enhancing production efficiency, reducing operating costs and improving user experience.
Provide “Payment Reward” Scheme for service providers to strengthen online and offline connections between merchants and users
In 2019, WeChat Pay will take a deep dive into different industries, via its "toolboxes" comprising core capabilities of WeChat’s ecosystem, WeChat Pay’s basic product and industry product, WeChat Pay will continuously provide solutions that are deeply integrated with each industry concerned, thus solving the major problems in its business operations, , in particular, the online nad offline connections between merchants and users.
On the one hand, with the “coupons” as the major initiative, the open flow and data capability are combined to provide more value-added services for businesses. Among others, WeChat Pay will offer the “Payment Reward” to all business partners without any requirement, allowing them to issue coupons on the "payment results page". At the same time, WeChat Pay will launch "Coupons Outside Store" -- function, which facilitate merchants to dispatch coupons, based on the location based services (LBS) technology, to attract customers who are near to stores, which is applicable to all customers, no matter they are staying in the shop, going to the shop or just finished purchase, aiming to increase the transaction amount during in-store shopping, and maintaining the relationship with customers after in-store shopping to promote re-purchase.
On the other hand, through opening up, cooperation and the delivery of digital tools to industry partners, WeChat Pay aims to expend the consumption chain in different industries.. At the event, WeChat Pay team announced the official launch of the “Industry Dark Room” Mini Program. - through the analysis of business cases, partners can have a clearer understanding of each part in the consumption chain. In so doing, WeChat can make better WeChat Pay tools, realize industry co-creation and provide better industry application experience.
Geng Zhijun, vice president of WeChat Group, said, “In the post-mobile payment era, WeChat Pay no longer focuses merely on payment, but it also helps industry partners to create a better consumption chain experience through digital tools.”
Making Use of Both “Commission” Incentives and Platform Flow Rewards
This year, WeChat Pay service provider system has also undergone a significant reform to an extent that the service provider's position has changed from "payment service provider" to "operation service provider". Based on WeChat Pay’s capabilities and combined with WeChat's overall ecosystem, WeChat Pay can improve users' life experience in various industries, enhance production efficiency and reduce operating costs for enterprises. WeChat Pay will continue to give industry incentives and marketing incentives, open data and traffic to service providers, and provide offline hardware support to more industries, thus further providing assistance to partners for their development.
It is said that the "Commission System" of WeChat Pay will cover dozens of industries such as catering, hotels, universities and medical treatment, and more industries will join in the future. The first measure of giving cash flow incentives to service providers is to give account opening incentives to those who use smart operation service for the first time. The second is to offer reimbursement according to the amount of each coupon. Furthermore, WeChat Pay will provide incentives for businesses by subsidizing traffic, that is, subsidizing WeChat Pay platform traffic according to the verification of the coupon received by users, with no limit on traffic incentives.
Also, the WeChat Pay Points, one of the most attractive functions of WeChat Pay, , will be extended to more industries in 2019 and will also be opened to service providers this year.
Adhering to openness and cooperation, WeChat Pay and partners of the ecosystem will expand the market in the common ground.