WeChat Mobile Payments Come to Australia
The move stems from a deal between Australia-based Novatti Group and RoyalPay Australia to distribute the mobile wallet in the country. WeChat was developed by China-based Tencent and launched in 2011. The WeChat social messaging app has more than 700 million registered users, Novatti said.
The “deal provides a new recurring revenue stream for Novatti that is leveraged to the Chinese tourism boom,” Novatti said. “Thousands of Australian retailers are expected to adopt WeChat Wallet this year–up from over 100 currently.” Novatti added that more than 1 million Chinese tourists will visit Australia this year and spend at least $1.9 billion on retail goods.