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Wechat Pay Service

FAQs

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.

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