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WeChat and Standard Bank Launch WeChat Wallet
24 Nov 15

WeChat Wallet
WeChat Wallet in partnership with Standard Bank

WeChat, in partnership with Standard Bank have launched a digital mobi wallet for your cell phone. The system joins other similar mobile wallets, however this one, the WeChat Wallet aims to rise above the rest. 

By partnering with Standard bank WeChat already gains a lot of street cred. The mobile wallet comes with state of the art security and some of the lowest banking fees. To load cash onto the WeChat Wallet will cost R9.95. To withdraw cash will cost R10, and there is a R5, 000 daily transaction cost with a R25, 000 monthly limit. 

Since WeChat have partnered with Standard bank they have been able to make use of the SnapScan technology which of course also belongs to Standard Bank. This means that WeChat Wallet is already open to many merchants in South Africa. 

Standard Bank also benefit through their partnership with WeChat since any user of WeChat Wallet can transfer money between WeChat users. The WeChat base has grown its subscriber base to over 4 million. 

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