Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Trending in China: Should Chinese School Employees be Punished for Celebrating Thanksgiving?
China Exempts Tesla Model Y from Purchase Tax
GL Ventures Leads $265m Series C Round in Chinese SaaS Edtech Firm EEO
In 165 countries, China's Beidou eclipses American GPS
China On Cusp of Becoming Third Ever Country to Collect Lunar Samples as Chang’e 5 Prepares for Moon Landing
JD.com Among Bidders for Japanese Skincare Brand Fancl’s Asian Business: Reuters
Trending in China: Did Sichuan Forget to Tell Chongqing About Their Joint Olympic Bid?
Alibaba’s Healthcare Unit Finds Tonic for Profits
Trending in China: Beijing Tackles Parking Shortage With Shared Spaces
Chinese Wireless Telecoms Operators Join Forces to Build 5G Base Stations to Reduce Costs
Ruhnn, Another U.S.-Listed Chinese Company Looks to Go Private
Unicorns surge to 500 in number as US and China account for 70%
Trending in China: Social Media Comes Out in Support of High Quality Fakes
Xiaomi-Backed IoT-Enabled Appliance Maker Sees Revenues Grow While Profits Slump
Chinese Startup WeRide Reports Promising Robotaxi Results
Trending in China: God recalls his hand – tributes to Maradona from Chinese social media after his death
Tesla to Manufacture Electric Car Chargers in China
China Restricts Livestreaming Spending and Blocks Underage Users from Tipping Performers
TikTok Granted One-Week Extension of Forced-Sale Deadline
Chinese Online Language Educator 51Talk Speaks the Language of Profit
WeChat Pay Targets Chinese Students Abroad in Cross-Border Service Expansion

By Ding Yi / Jan 09, 2020 01:13 PM / World

WeChat Pay has launched a new service allowing Chinese students studying at South Korean universities to pay their tuition fees, in the Tencent-owned mobile payment tool’s latest effort to simplify cross-border transactions.

Chinese students at 11 higher education institutions, including the Seoul-based colleges Dongguk University and Chung-Ang University, can now use the service on a central website used by overseas students in South Korea to pay schooling fees, according to a report published Wednesday on Tencent’s news portal. The report did not mention whether the service will eventually be expanded to more universities.

According to the report, the service has shortened the payment time to “several minutes” compared with the more laborious previous process whereby Chinese students had to exchange yuan for South Korean won at local banks and then pass on the cash to their institutions, the report said.

Mobile payment systems are ubiquitous in China, but the industry’s major players have long grappled with how to adapt their services to include cross-border transactions.

Reports in November said Tencent was in talks with five international card issuers about allowing overseas cardholders to use WeChat Pay when traveling in China. Its domestic rival Alipay already has a similar function allowing foreign tourists in China to link overseas bank cards to the app.

Contact reporter Ding Yi (yiding@caixin.com)

Related: WeChat Pay Eyes Foreign Visitors in Race with Alipay


Share this article
Open WeChat and scan the QR code