China’s number one payment and digital wallet service by Tencent Holdings Limited’s WECHAT PAY international payment system, introduced in 64 countries, has been officially launched in Mongolia. Mongolia has become the 65th country to introduce WECHAT PAY, and the Mongolian currency MNT is the 25th supported currency of the WECHAT PAY system.
The Transport Development Bank is allowing Chinese tourists and businesses and Mongolian Businesses great opportunities to perform payments and receive payments via WeChat in Mongolia with the cooperation of the “KKTT” LLC that provides Qpay services.
In 2011, Wechat was Launched in China is currently the most widely used application and ranks fifth in the world in terms of active user numbers.
With the official system access in Mongolia, Chinese citizens will be able to make the following payments in Mongolia.
- Scan to Pay – Wechat users make transactions via static QR scans
- Scan to Pay – Wechat users make transactions via dynamic QR scans
- In-App Pay – The deep link for the invoice and Mini Program Pay for payment will be available on the Merchant application soon.