Wirecard expands ecommerce partnership with WeChat Pay

Written by Ruby Hinchliffe
20th March 2020

German fintech Wirecard has expanded its ecommerce partnership with Asian Big Tech WeChat Pay to give Europe’s merchants faster access to the Chinese market.

Alongside its logistics and customs partner SwissPost, Wirecard will allow merchants across Europe to integrate WeChat Pay into their online shop checkout page “in just a few minutes”.

The German fintech believes the new offering “can drive up conversion rates”

“This solution is ideal for European merchants seeking to enter the competitive and growing Chinese ecommerce marketplace,” says Wirecard in a statement.

The Wirecard integration will work by redirecting shoppers to WeChat Pay’s app or mobile website, much like PayPal’s checkout integration.

The German fintech believes the new offering “can drive up conversion rates” and boost customer satisfaction for Chinese customers shopping with its merchants.

As part of the integration, Wirecard says it will also be offering “virtual workshops” and “marketing support” to its merchants.

“As ecommerce continues to boom around the world, it is essential for merchants with global aspirations to offer localised payment methods,” says Wirecard’s EVP of sales retail.

“Our long-standing experience with Chinese payment methods enables us to support merchants that seek to break into the lucrative Chinese ecommerce market.”

Wirecard has been ramping up its presence in Southeast Asia. Last week, the fintech connected its payments ecosystem with the Singapore-founded ride-sharing company dominating Southeast Asia, Grab.

The start-up, which raised a staggering $856 million in February, is hailed as the “super app” of the region. It currently has a $14 billion valuation and offers Wirecard a means of gaining consumers in Singapore and its neighbouring markets.

It’s the same case for its partnership with WeChat in China, which offers Wirecard’s merchants’ access to more than one billion users.