WeChat Promotion Brings Growth

The second annual 'No Cash Day' campaign by WeChat Pay came to an end this week, after its seven day run. During the promotion, any offline payment made in an eligible store with WeChat Pay, entitled the user a random prize reward of any amount up to 888 yuan, or 133 US dollars. However, those prizes have now been drawn, and are currently redeemable through WeChat. The campaign has led to an increase in the number of stores using WeChat Pay, with the number of co-operating locations increasing from 80,000 shops last year, to around 700,000 this year. Analysys, a Chinese research firm, has revealed that due to rival payment service AliPay also running a similar promotion, the country's mobile payment market has doubled since last year, reaching nearly 6 million yuan in the first quarter of 2016.