Asia Tech Wire (May 20) -- JD.com and Tencent, two major Chinese tech companies, recently made their digital payment services, JD PAY and Weixin Pay (WeChat Pay outside of China), interoperable in China.
JD PAY has also become the first third-party payment organization in the industry to interoperate with both Weixin's personal code and merchant code, JD.com said.
Users can not only make payments by scanning a Weixin payment code through the JD Finance APP, but also receive daily payment discounts.
The vast majority of mobile payment users, represented by small and medium-sized enterprise (SME) merchants and consumers, can benefit from this interconnection.
JD.com said the interconnection is accessible under the unified business rules and technical standards of NetsUnion Clearing Corporation (NUCC), the operator of an online payment settlement platform for nonbank payment institutions in China.
According to market information, JD PAY has more than 500 million users, while Weixin Pay has more than 1 billion.