U.S. PayPal users can now pay merchants across China via the WeChat Pay network. Tencent Financial Technology will expand the service to other global markets in phases.
The integration links TenPay Global with PayPal’s network to access China’s retail and services sectors. Tencent is waiving fees for foreign cards linked to WeChat Pay through 2026.
PayPal is entering the world’s largest mobile payments market to offset slowing core growth. Local players WeChat Pay and Alipay currently dominate the Chinese payment landscape.