WeChat Pay is undergoing internal testing for its business account. Official response has been received.

WeChat Pay's business account is currently in the process of internal testing. We have received an official response.

[Mobile China News] Earlier, there was news that WeChat was conducting internal testing of business accounts, which attracted a lot of attention from netizens. On October 25th, Mobile China noticed that according to the news from “Jiemian News,” WeChat payment officials have responded to this matter.

WeChat payment officials said: “The product is still in continuous iteration. Based on the usage of WeChat payment by users and combined with other factors, we comprehensively send out test invitations. We hope this scope can continuously expand. Currently, the entrance is in the gray phase, and we will continue to improve product features.”

According to reports, “business accounts” are a package of exclusive digital business services provided by WeChat payment for users who use personal business collection codes. According to the requirements of the competent authorities, personal business collection codes have been online since March 2022, and users with business intentions or business activities can apply to use them. Compared with personal collection codes, personal business collection accounts can enjoy various merchant-specific benefits and services, such as credit card collection, increased payment limits, independent income and expenditure accounts, and business analysis.

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According to other media reports, there are obvious differences in transaction fees between business accounts and personal accounts. Among them, personal accounts have free collections, while income funds from business collections are subject to transaction fees, and different collection methods adopt independent collection rates. Among them, non-credit card preferential rate is 0.1%, and credit card preferential rate is 0.38%.

According to Tencent’s financial report data, as of June 30, 2023, the merged monthly active accounts of WeChat and WeChat have reached 1.327 billion, a year-on-year increase of 2%, covering almost the entire population of China, and steadily occupying the position of the “number one national social App.”

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