Almost a year after its arrival in Malaysia, WeChat Pay MY is forging new local partnerships to drive future growth. For Tencent, the Chinese owners of the app, there is far more than the Malaysian e-wallet market at stake.
In 2014, Alipay had the mobile payment industry at its feet. Tencent’s WeChat Pay changed all that. Alipay was suddenly in a battle for survival.
WeChat will be charging for its credit card payment service. It is likely that users will move to other free platforms in the future.
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