17-Oct-18, South China Morning Post
Singapore electronic payments provider Nets is in talks with Tencent Holdings’ WeChat Pay to allow users of its NetsPay digital wallet to make mobile payments in mainland China.
Image: South China Morning Post
The partnership will allow NetsPay users to scan QR codes in stores accepting WeChat Pay on the mainland and settle purchases in Singapore dollars. Negotiations are still ongoing and a final deal has not yet been reached.
If finalised, NetsPay will be the first third-party digital wallet to link with WeChat for cross-border payments in China. This would be convenient for visitors to China because mobile payments have become so prevalent that the central bank had to issue a reminder to merchants not to refuse to accept cash.