Facebook wants to copy payments by Account with WeChat by Facebook


Tencent did not respond immediately to a request for comment when CNBC told us on Wednesday.

A Facebook representative did not answer CNBC's questions about whether he is trying to replicate WeChat, noting that “the company has no more share of anything” about wider pay efforts.

“Like many other companies Facebook is exploring ways to move the power of technologies. The new small team is investigating lots of different applications, "said the Facebook speaker.

In 2018, he said, from a research company, that more than 45% of the Chinese population were using cash, compared to just over 20 per cent in the United States. Chinese consumers usually received credit cards and accepted the payment of WeChat and the Alipay competition, which is owned by Alibaba affiliate Ant Financial.

Not only does WeChat pay payments, but it also has other financial services such as managing wealth and micro-loans. Pushing Facebook Facebook payments may not be so ambitious.

"Maybe some of the money that might be for a Facebook Dog may not be as different as WeChat Pay," said Choi Chun, an international chief executive of a China-based market research company iResearch, with CNBC.

"A large amount of WeChat income is generated from commission dollars from online retailers within WeChat and wealth management services, which I don't think Facebook would be able to get in by with "The online shop sector and already a wealthy management sector in the USA," added Account.

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