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 WeChat pay, alipay or credit cards?

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TSvanillapire
post Nov 30 2017, 08:51 PM, updated 8y ago

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So, news reporting that WeChat pay would soon make available in the Malaysian markets with ringgit transactions and that is going for real by 218. Their rival Alipay has also announced to launch the payment solutions in the country in the view making Malaysia as a gateway to expand to other ASEAN markets through the DFTZ.

Would you use them because of its convenience given the fact that Visa and MasterCard plastic offer some privileges like cash back, bonus to name a few.
TSvanillapire
post Nov 30 2017, 09:46 PM

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QUOTE(e_mc_square @ Nov 30 2017, 09:10 PM)
Hi keras place will still use CC.
Food stall, 7-11, Ramli Burger will use Alipay.

You can't imagine how easy your life will be with Alipay. I personally experience it when I working in China. Basically zero cash needed.
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Yay indeed .. I wanted to try it out when I visited China previously but too bad I do not have the local bank card. Well, people say cash is king so I am one because no one in China use cash for payments.. lol


QUOTE(Xaser_3 @ Nov 30 2017, 09:14 PM)
Not forgetting we also have Samsung Pay which is becoming popular. I wouldn't mind trying Ali Pay once it is officially launched.
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The biggest cons for Samsung pay is that it only targeting few people. Not everyone is using Samsung somewhat but it is a good start for Samsung.

QUOTE(howszat @ Nov 30 2017, 09:25 PM)
The big difference is the retailer need to only provide a QR code for buyers to scan.

That is so much easier for, say, the roadside vegetable seller to do compared to installing a Pin & Pay or Paywave terminal.

AFAIK.
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Entry cost for cashless payment is good got small businesses. Vcash is offering 0.8% merchant fee for every transactions made on their infrastructure. Which is good...noore bulky machine. Question here, how do people do instalment plans going forward.. hmmm
TSvanillapire
post Nov 30 2017, 09:49 PM

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QUOTE(jishu @ Nov 30 2017, 09:48 PM)
I might be stupid about this, but I guess BOOST will be the next big thing.

Because? Because of Axiata. They got a load of budget
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Boost? Are you referring to the energy drink? Haha
TSvanillapire
post Nov 30 2017, 10:15 PM

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QUOTE(fun_feng @ Nov 30 2017, 10:01 PM)
But credit cards have cashback, points, free lounge access, etc...

How about these mobile payments?
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Exactly... All these perks would be gone by then tho...
But the good part is that we can split the bill by sending money each other with ease.
TSvanillapire
post Nov 30 2017, 10:39 PM

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Oo ooo... We don't get paid for interest earned by putting money into those payment channel too... Just like Vcash that is turning me off
TSvanillapire
post Nov 30 2017, 11:20 PM

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QUOTE(Ramjade @ Nov 30 2017, 11:10 PM)
Unless alipay and whatsoever pay comes with cash back or perks for the user, it won't gain a following in Malaysia. Why should I use those pay and earn nothing from them when I can use cc and get some of my money back?
Not if consumer are not adopting it. You can offer super cheap fees but if the customers are not using and they demand for Mastercard and visa, the merchant have to comply or they will lose their customer.
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WeChat is relying on the 20m user base in Malaysia but how many are they really tech savvy in all these stuff? Say by taking grab and Uber as comparisons, there might be a huge user base but in fact it is just perceptions of how we see it and they are having a difficult time in wooing users ...

Anyhow, maybe alibaba and tencent have some magics in turning things around
TSvanillapire
post Nov 30 2017, 11:42 PM

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QUOTE(howszat @ Nov 30 2017, 11:38 PM)
The situation you are talking about is Malaysia right now.

However, this thread is about WeChat pay, where the smallest hawker has a QR code for buyers to scan.

So if you open your mind wider, why do you think Wechatpay works in China, but not here?
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In China, I can only imagine how do they manage the changes when thousands of people if not hundred buying stuff with them .. they might need to carry bags to the nearest banks
TSvanillapire
post Nov 30 2017, 11:48 PM

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QUOTE(r3d2 @ Nov 30 2017, 11:44 PM)
WeChat and Alipay in China does not command any transaction fees unless you are moving the cash into your bank account or withdrawing it. Basically most day to day transaction for customers and sellers are FOC.
If they banks here requires a transaction fee, It will die a natural death as many sellers will not be bearing the transaction fee and refusing to accept it. This makes the payment not popular to entice more people to opt for cashless payment.
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Does it? Well this is something new to me to know one of their key successes. It now make sense how they keep growing by the cash they had from its users
TSvanillapire
post Nov 30 2017, 11:50 PM

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QUOTE(howszat @ Nov 30 2017, 11:46 PM)
What bags to the bank? This thread is about small hawkers, and cashless, and small amounts. What bags are you talking about?
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Bags as in notes received by the hawkers from their thousands of customer. Just look at the populations in China, theyight just don't have enough time to count and make changes.

That refers to your opinion in why China is a success but not here.
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