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China’s Tencent to open WeChat payment to overseas buying

Chinese internet giant Tencent said on Friday that it will completely open the mobile payment service offered on its social messaging app WeChat to overseas transactions.

The service will make it easier to buy items from foreign shops as Chinese buyers can pay in yuan, and the payment system will automatically settle with retailers in the local currency, Tencent said.

The system will support settlement in pound, Hong Kong dollar, US dollar, yen, Canadian dollar, Australian dollar, euro, New Zealand dollar and Korean won. Tencent also promised more payment options. Currently, payment can only be completed after retailers scan a QR code generated by the app installed in consumers’ smartphones.

(Source: Shanghai Daily)