SYDNEY, June 18, 2021 /PRNewswire/ -- With merchants seeking new online revenue in the wake of Coronavirus, China's WeChat Pay is witnessing a significant uplift in the Oceania market and is committing more resources to support the digital transformation of local businesses.
In an online conference with Australian and New Zealand business partners this week, WeChat Pay disclosed that the volume of transactions on WeChat Mini Programs in the region during Covid-hit 2020 increased by 480%, while the number of active Mini Programs grew by 180%. A "WeChat Pay Green Ocean Plan 2021" was also announced, where WeChat Pay pledges to offer enhanced marketing support and subsidies for local partners.
"The uptake in transactions in the Oceania market over the past year proves that the WeChat ecosystem not only brings huge traffic but is effective in helping merchants attract repeated purchases from customers, reduce costs and improve operational efficiency in the time of Coronavirus. In 2021, we are committed to creating even more value for our partners with the Green Ocean Plan," said Monica Zheng, WeChat Pay's regional managing director.
Faced with a sharp drop in tourists, a steep decline in offline income and surging costs, cross-border eCommerce brands and local businesses alike are actively seeking new ways to reach new customers and increase revenue. The charm of WeChat lies not only in its strong ecosystem traffic with 1.2 billion users, but also the powerful social marketing tools it offers merchants.
WeChat Mini Programs, which give users instant access to enterprise services without having to download separate apps, were pioneered by WeChat in 2017 and today boasts over 400 million daily active users. WeChat's built-in payment service WeChat Pay offers users a seamless online-to-offline and offline-to-online shopping experience within the app and handles over 1 billion daily transactions. It continues to grow its international reach with the growth of Chinese outbound tourism, study and work, offering fast and secure cross-border payment services for Chinese tourists, students and resident Chinese with attractive exchange rates in more than 64 markets and 25 currencies.
Lagardère, an established travel retail specialist serving over 25 million customers, accelerated digital transformation after COVID-19 with its deep integration into the WeChat ecosystem. Chris Laverty, Lagardere Pacific's Chief Merchandise Officer & Chief Digital Officer, said, "WeChat has always been an important tool for us, however over the last year we have had to look at new ways to reach customers who are no longer travelling."
"By working with the team at WeChat we have been able to find new ways to enhance cross border e-commerce, using tools such as their unique CRM platform and Mini Programs, and by livestreaming to a wider audience. We have been able to keep in touch with our current customers, but also find a whole new market to speak to," said Laverty.
With the newly launched Green Ocean Plan 2021, the opportunities in Oceania are only set to grow. WeChat Pay said it will offer more marketing and onboarding support for local merchants, financial institutions and service vendors, including enhanced rights and interests' packages. Service vendors could earn generous technical service subsidies. More product features, saleable categories, and traffic exposure will be offered to merchants of various sectors in Oceania. Interested parties may reach out to their relevant WeChat Pay business development representatives or email wechatpayglobal@tencent.com for more information.
