WeChat: The Future of Banking Ecosystems is Moving West
Apr. 20, 2018

WeChat provides a compelling example of the power of integrated products and services, combined with a solid messaging and payment platform that can serve as a model for the banking ecosystem of the future.

With the debate on technology, electronic commerce and the current bank, it is difficult to ignore progress in Asia. WeChat is described as a ubiquitous application experience that dominates them all. WeChat is currently available in more than 25 countries, in addition to China.

WeChat dominates the Chinese mobile market, with one billion monthly active users, since the way Chinese people communicate online, from communications to payments, has completely changed. Like the most popular social apps in other parts of the world, users tend to be younger.

According to Tencent, 60% of users open the application more than 10 times a day. 21% of users open WeChat more than 50 times a day. In addition, the average daily time for the application is more than 66 minutes. 17% of users spend 4 hours or more per day in the application.

It is no exaggeration to say that WeChat currently dominates social networks in China and some neighboring countries. The real impact could be that WeChat extends beyond traditional borders to more Europe and even to the United States.

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