WeChat Pay eyes up Europe for cross-border business
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WeChat Pay has announced that Europe will be the next key market for WeChat Pay Cross-border Business.
As of April 2019, the number of merchants in the European region offering WeChat Pay as a payment method was 3.5 times higher than the previous year. WeChat has 1.112 billion monthly active users worldwide, of which 800 million are users of WeChat Pay. WeChat Pay has officially entered more than 49 overseas countries and regions, making it an excellent way for global merchants to quickly and effectively connect with Chinese tourists.
With outbound travel becoming easier and an increase in personal income levels, the Chinese outbound travel market continues to expand. According to the latest data from China’s Ministry of Culture and Tourism, in 2018, more than 149 million Chinese tourists travelled abroad, and Europe was the destination of choice for 11 percent of them.