Wechat Pay considered one of the most innovative feature in China tech industry. Wechat Pay transformed how Chines People distribute “red-envelope” Below are some examples of how the IWA change consumer’s behavior and the industry landscape.
Tencent wechat wechat pay 800m download#
It also creates opportunities for smaller App developers by decreasing the marketing expense and efforts for people to download and try a new App. IWA doesn’t require installations and thus make the App experience more convenient for the consumers. IWA is Wechat-based download-free apps that provide a suite of modules for developers to create web apps that run within Wechat and can provide largely the same functionalities as native apps. However, it is now transforming the Application market in China by launching “In-Wechat Apps (IWA)”. Wechat, an App created by Tencent with ~800m MAU (Monthly Active Users) was originally a social networking App like Facebook: The Wechat moment is a similar feature like Facebook feed and the messenger service is akin to Facebook Messengers.
And the monthly number of new Apps that are downloaded by the consumers are around 1.2-1.6. According to eMarketer, 46% of respondents using one to five apps per week, whereas only 35% use six to 10. We use fewer and fewer Apps in smartphone now. How many Apps are there on your mobile phone? What do you think of an App that can combine Facebook, Whatsapp, Uber, Paypal, Instagram, Yelp, Expedia, Techcrunch and hundreds of small apps together?
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