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The role of WeChat Pay in New Zealand Businesses

WeChat – the word mostly associated with a group identified as Chinese but very much significant to New Zealand businesses from more than a decade. A social media mobile application originated in China for Chinese population is used by local as well as global Chinese speaking group. Apart from being used as a communication app, it is used as a marketplace to buy and sell goods and services. The multipurpose platform is identified as a one stop solution for all the lifestyle requirements such as communication, shopping, payment system, entertainment, social media. But what is the role of WeChat in Kiwi business economy?

Almost 31% New Zealand’s immigrant population comes under active WeChat user profile. After New Zealand was hit by a pandemic closing the tourist businesses, local population came to an aid for NZ businesses. Being one of the biggest consumer group, Chinese population has shown a high spending power and consumption rate. Kiwi businesses can now actively market the products and services on this giant network accounting for the 1/3rd of Chinese population’s online time. For Kiwis like us it is a bit difficult to get a hold of its functionality as there is no app equivalent to WeChat in English Speaking Communities. One can sum up its features as a combination of Facebook, Messenger, Instagram, Online Marketplace, Whats App – Yes, all of it in one!

What is in it for you as a business owner? WeChat opens to the huge opportunity for Kiwi businesses and brand that can monetize on the existing Chinese market, cross border business with China, upcoming international students, and tourists. Be the first to market your business on this platform and get benefits. Presently, the awareness and information of this opportunities seems to be limited.

WeChat as the only existing channel, successfully engages New Zealand’s Chinese population and extends to China and around the world. Chinese way for communication and engagement has been observed to be different than the native communities. As a go-forward strategy of WeChat’s parent company, New Zealand is identified as the most potential market for Chinese consumers to be allowed to use WeChat features, even ahead of the United States! This has opened a wide range of opportunities to Kiwi businesses willing to capitalise on Chinese consumer group.

In simple words, brands and businesses that knows the strength of Chinese consumers for their businesses can be benefited by integrating WeChat as their 2021’s growth strategy. Kiwi businesses such as Finance (Westpac), tourism (Visit Rotorua), retail (Mrs Higgins), government (NZ Police) and telecom (Vodafone) are promoting their products and services on WeChat. This is inspiring new businesses to come on board to take advantage on this open marketplace.

We suggest New Zealand businesses to open a merchant account with us. Integrating WeChat Pay with IE PAY is simple and quick. After the integration, Chinese customers can pay for goods and services using their preferred bank accounts into business owners account from day 1. Alternatively, businesses can offer discounts, advertise of goods and services, and even sell items directly through WeChat. It truly empowers customer experience as well as has proven to be the best Chinese social tool to promote businesses.

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