Question: How do customers register as a merchant of WeChat?
Answer:
Hello Dear Customer, Business entities and individuals providing services in Mongolia are able to receive WeChat Pay and if would like to join as a merchant:
To open an MNT current account at any of the Transport and Development Bank;
You can register as a merchant by filling out a WeChat Pay agreement and form provided by a customer service representative at any of the Transport and Development Bank branches.
Question: Would it be possible to connect your MNT account directly?
Answer:
Hello Dear Customer. Yes, hence the tugrik MNT current account is opened, and the transaction will be credited directly to the tugrik MNT account.
Question: Is it possible to transfer CNY from Mongolia to China?
Answer:
Currently, it is unavailable to make a transaction from Mongolia to China via WeChat Pay, and only possible to receive payments from China.
Question: Can Mongolian citizens connect their cards to WeChat pay?
Answer:
Hello Dear Customer. Unfortunately, according to WeChat Pay regulations, Mongolian citizens are not able to make card transactions.
Question: What is the merchant fee? How is the exchange rate difference determined?
Answer:
As for the exchange rate, it will be credited to the customer’s MNT account at the Transport and Development Bank based on the spot exchange rate provided by Wechat.
Question: How long does it take for WeChat Pay to approve the merchant agreement? When to be able to receive the QR code?
Answer: Once the Merchant signs a WeChat Pay service agreement, once WeChat approves, connect to a QR code and issue a merchant’s QR code within 2-3 working days.