1Can I trust WeChat?
Tencent, the owner of WeChat, is now listed in the top 10 companies globally. They have 900 million active users and process 600 million payment transactions daily.
2Can I trust PayPlus?
PayPlus is an authorised WeChat Service Provider, to achieve this PayPlus had to meet all the WeChat criteria as well as New Zealand regulations. As a result, PayPlus has an approved Anti-Money Laundry program, PayPlus is a registered Financial Service Provider and a member of the Disputes Resolution Scheme.
3Where do you store all the payment data?
To process WeChat payments, a WeChat Service Provider needs to use a payment engine. PayPlus has developed its own payment engine which sits on servers in New Zealand meaning your payment data stays in NZ and also means the payment experience is fast and secure.
4When will my transactions settle with me?
PayPlus has a T+1 settlement policy so all of the current days’ WeChat Payment transactions will settle the next business day (excluding Chinese and New Zealand holidays).
5Do I need to worry about exchange rates?
No, WeChat deals with the exchange rate for you as part of the cross border settlement solution. You charge in NZD and Chinese customer has RMB deducted from their WeChat Wallet and then we settle back with you in NZD.
6Can I Offer WeChat Pay on my Website?
Yes, PayPlus has a powerful payment engine which can be integrated with your website to offer on-line payment transactions.
7Does WeChat Pay integrate with my POS system?
The short answer is yes. However you will need to have and obliging POS provider to do their bit. PayPlus’s payment engine is designed to be integrated with POS systems but it requires the POS provider to dedicate some resource to complete the job. Check out our case studies where PayPlus has successfully done this for the first time in New Zealand.