As it has already been said in some previous articles, there is no need to present you WeChat. According to the latest news this monstrous App will soon reach 900 million users.
Let’s try to explain the new trends, the strategy that Tencent - WeChat is applying to develop its power either in China or even abroad.
What is the new strategy of Tencent – WeChat?
Quite recently Tencent has been valued at more than 300 million USD and reached the list of the 10 most-valuable companies in the world. As you maybe know, Tencent has announced that WeChat will stay the core of their business development strategy. They are doing it through at least two points which are:
- WeChat in Retail
WeChat is more than a social messaging platform. Other than the messages, it is also a source of news and promotion for the users. Moreover, you can also do some mobile payment either online or offline. More and more brands have an Official WeChat Account, it is commonly used by the luxury brands. It is used for marketing, customer service and to redirect the traffic to other locations. It has been used by Intime Retail to reduce the check-out time in the stores, to improve the customer shipping experience and conversion rate. Now, the users can even choose in which shop they will pick up their order when they use their Intime Retail WeChat. Besides, some companies have been developing some App through the API of WeChat they called WeChat App. Those Apps can have a wide range of functions
- The use of artificial intelligence
Earlier in May, Tencent announced they would open an artificial intelligence (A.I.) research facility in USA and more precisely in Seattle. This lab will focus on speech recognition and natural language processing. It is their second A.I. lab after the one in Shenzhen they opened last year. What make Tencent different from the others is their valuable asset – WeChat – and it is almost 900 million users. By integrating their A.I. they will be able to compete with the other voice-controlled assistants. That is why even now, it is getting more and more important for the retailers and brands to use the WeChat platform to get in touch with the customers.
How is the expansion of WeChat Pay?
As we have recently told you WeChat Pay arrived in the UK but now one month later, WeChat Pay is also coming to the US! Indeed, a new big step from Tencent and WeChat. They are going to do a partnership with CITCON, a mobile payment startup based in the Silicon Valley. That means that all the people using WeChat in the US will be able to use WeChat Pay to pay for their transactions. Moreover, they will also support the payments in RMB.
This new market opening for WeChat Pay has for first target the Chinese tourists who are willing to travel in the US. With the US they will be now, like said previously, in Italy and UK. They are available in 15 countries and they support 12 currencies.
Tencent is clearly trying to expand its power and its presence overseas. They have also invested in Australia in a cross-border payment startup called Airwallex.
Where is WeChat blocked?
According to the latest news, WeChat’s website has been blocked by Russia. That means that nobody can no longer use WeChat in Russia. The reason of this huge announcement is that WeChat failed to provide contact information that should have been added into the register of information providers. This was applied by the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor).
Some users have already complained that the messenger was also blocked. It seems that WeChat is not the only one. Indeed, it happened also to Vchat, Line and Blackberry.
Russia revised the data privacy law in 2015 and they said that all the companies must store their data in servers within Russia and provide them to the authorities if it is necessary in the case that they manage data of Russian citizens. If the companies fail to do that then they will be banned from Russia.
Russia is not the only country where WeChat is blocked. In 2013, Iran also banned WeChat but the company is still trying to get entry to it.
BREAKING NEWS: 12th May 2017
After a week of bannishment in Russia, Tencent - WeChat finally reached to an agreement and according to the regulator: "WeChat provided the information that is necessary to include them in the registry".
What is your next step?
WeChat is unavoidable in China but they start to reach more and more oversea countries (if they respect the local law and can find a local payment companies that can help them to access the local payment rules). That is why if you are interested by WeChat do not hesitate to follow us and if you have any question or interest in WeChat either for personal purpose or business purpose (the implement of a WeChat store – WeChat App – Official WeChat Account…), do not hesitate to contact us we will be glad to help you.