Describe Benefits Of Wechat Pay From Traditional Payment

Benefits of WeChat Payment over Traditional MethodsNameInstitutional AffiliationDate
WeChat is a Chinese social media mobile application software that can be used in e-commerce and payment services. It was developed by Tencent, and it was released in the year 2011. The mobile application has over 963 million active users, and it is called China's App for everything due to its numerous uses CITATION Jin17 \l 1033 (Jin, 2017). One of the major advantages of WeChat over the existing mobile payment methods such as Apple Pay is that it can be easily downloaded from Android, Blackberry, Ios, Windows operating system and it offers a web version for the desktop. The development of WeChat as a form of mobile payment demonstrates the increase in technology in the business environment. New mobile payments such as WeChat present many advantages as compared to the other traditional methods of payment.
In the present, electric commerce period, the traditional methods of payment cannot be able to keep up with the high-speed transactions that are associated with WeChat. As compared to the other traditional methods, WeChat is a high-speed method which means that the quantity and the quality of the mobile services that are provided are of the highest quality. WeChat as a form of payment takes advantage of the use of smartphones that are preferred by a large number of people in China. People may consider the use of the traditional methods of payment such as credit card or debit card to be cumbersome since you need to carry them and they are not convenient. On the other hand, you can easily carry your smartphone wherever you go since it is a communication tool.
Another advantage of using WeChat over the traditional payment methods is that there are large business organizations that accept it as a payment method. Due to a large number of people who rely on WeChat as an option of payment, many business facilities accept it as a payment method hence making it convenient for the customer to use it CITATION Aus17 \l 1033 (Australian Government, 2017). The traditional methods of payment are accepted in some places while they are not allowed in other areas. This restriction on their usage can cause inconveniences to the customer, and they will opt for WeChat which is accepted and used by a large number of people.
WeChat as a form of payment enables the individuals not to necessarily consider time or place when they are making their payments since the method of payment is independent of such factors. The flexibility ...