Can I use WeChat Pay in Malaysia?WeChat has obtained the Malaysian electronic payment license

马来西亚Can useWeChat payment?WeChat has obtained a Malaysian electronic payment license

for malaysianSmall tradeIt's great news, we can use WeChat Pay as we wish, and we can do better in MalaysiaWechat marketingNow!

According to a report by Fortune on November 11, Beijing time, Liu Shengyi, senior vice president of Tencent, told Reuters,Malaysia will be the company's first overseas market to launch the WeChat ecological chain.

Liu Shengyi told Reuters in an interview,Tencent has made a "breakthrough", obtaining an electronic payment license in Malaysia, and plans to launch electronic payment services in Malaysia in early 2018.

The move will make Tencent a rival to Alibaba as they race to find new growth opportunities in overseas markets.

Liu Shengyi said, "Malaysia has 2000 million WeChat users. In this sense, it is a big market with great potential for development. Malaysian users like Chinese companies' Internet products."

Southeast Asia, home to 6 million people and some of the world's fastest-growing economies, is an important battleground for Chinese tech giants.Chinese people make up more than one-fifth of Malaysia's population.

The two heroes of China's digital payment market - WeChat Pay andAlipay, are seeking to enter overseas markets, but currently mainly limited to providing services for Chinese traveling overseas.Data shows that Chinese tourists can pay for shopping via Alipay in 34 countries and regions, compared with 13 for WeChat Pay.

Ant Financial has established joint ventures in seven markets to provide payment services.Some bankers and investors say Alibaba is considering building a global payments system, while Tencent is more interested in bringing traffic to WeChat, pursuing two different strategies.

WeChat has more users and Alipay has higher transaction volumes, according to JPMorgan analyst John Hall.Other investors pointed out that if theE-commerceCombined with the platform, WeChat Pay can also handle a large number of transactions.

Enter the global market

One challenge Tencent faces, analysts say, is that its success in China cannot be easily replicated in other markets.

Liu Shengyi said that Tencent is "in no rush" to accelerate overseas expansion plans or improve its digital asset revenue generation capabilities. "We have our own pace. To be honest, the Chinese market still needs to be deeply cultivated."

Monthly active users reach 9.8 million

Liu Shengyi said that WeChat has developed from a messaging app to an all-in-one platform with 9.8 million monthly active users. As a "killer product", it will be the vanguard of Tencent's overseas expansion.

In the third quarter, WeChat became a major driver of Tencent's revenue growth.Social and other advertising revenue rose 63%, while payments and cloud services helped "other" revenue rise 143%.

Analysts said that the success of "Honor of Kings" is also strongly supported by WeChat, but it faces greater difficulties in opening up the Western market.Tencent this month delayed the release of the U.S. version of "Honor of Kings" until next year to "further enhance its playability and social features."

In addition to games and social media, Tencent's other businesses are mainly digital content, including Tencent Music and Tencent Video.

cultural challenge

Liu Shengyi said that Tencent's ultimate goal is to export Chinese culture to the rest of the world, not the other way around, which he acknowledged was a considerable challenge.Tencent this month announced a plan to invest 100 billion yuan to strengthen its creative content ecosystem.

Tencent President Liu Chiping said last week on the company's earnings analyst conference call that the company will continue to invest in digital content -- especially online video -- to attract more users to the company's services.

Liu Shengyi said that overseas acquisitions will be a key way for Tencent to enhance its global competitiveness and enter more markets.

In addition to games and social media, Tencent's other businesses are mainly digital content businesses such as Tencent Music and Tencent Video.

"Our goal is to create 'super IP (intellectual property)'."

Liu Shengyi pointed out that Tencent's ultimate goal is to export culture from China to the rest of the world, not the other way around, which he admits is challenging.

Richard Windsor, an independent technology analyst, said the acquisition of Supercell in 2016 gave Tencent a big advantage in gaming, and its stake in social media company Snapchat is another move by Tencent to enter overseas markets. Start to build a digital ecological chain, challenge Google, Apple, Amazon,Facebookdominance in consumer digital services," but he noted that Tencent is currently in the "super early stage" of the process.

Windsor said that Tencent may seek more mergers and acquisitions. In addition to the expensive acquisitions, it is also a challenge for Tencent to integrate digital assets at home and abroad.

Windsor pointed out that Tencent is trying to capitalize on Chinese digitalLifeThis is why he believes that Tencent’s market value has more room to rise, and he is more optimistic about Tencent rather than Alibaba.