Intelligence

Is the US ready for WeChat?

If you live in the U.S., “social payments” is relegated to Venmo and its emoji-powered money transfers.

But compare that relatively thin offering to China’s WeChat, the do-everything messaging app that cornerstone of Chinese digital life. WeChat lets users execute peer-to-peer payments, top up their mobile phones, pay utility bills and book plane, train and movie tickets or book a karaoke session – to name just a few things. If China is any indication, social networks and messaging services could be killer apps for money transfer; WeChat is already leading that movement.

Source: Tearsheet

More: http://www.tearsheet.co/payments/is-the-us-ready-for-wechat

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