WeChat Pay is the digital wallet associated with the WeChat Network. It allows users to make online purchases and mobile payments, as well as connect with businesses in real time through chatbots and other features.  Merchants that create a WeChat account gain access to its more then 300 million active users.

Creating a merchant account is straightforward. Simply sign up for a WeChat Pay Network account (in the app or online) by providing your business information and uploading a picture of the company logo.

Then, select a payment method (credit card, Alipay balance transfer, bank transfer, etc.). You can also select different payment methods depending on the type of customer you are trying to attract. Millennials are the most likely demographic to use digital wallets. Gen X prefers debit cards, but is willing to go digital. Baby boomers prefer paper-based transactions, but will use credit and debit accounts from well-established organizations.

To use WeChat Pay, consumers simply open the app and select "Scan QR Code" under "Payments." They scan the QR code on their screen or enter the merchant's alphanumeric address. Once they've entered all of the required information, they click "Confirm" to complete the transaction. This will automatically send money from their bank account or credit card into the merchant's account. If they don't have enough money in their wallet at the time of purchase, WeChat will charge their card later when funds become available again (e.g., after midnight).

WeChat Pay can be used at supermarkets, restaurants, shops, beauty parlors and more than 6 million other locations around China. Merchants who aren’t in China will benefit from accepting WeChat Pay through its automated currency exchange system.