36 | SLAS TIMES
8 / 10
The Good + saves time
+ eliminates change + easily transferable
+ allows for in-app purchases
+ can be linked to other accounts .
The Bad
-can be stolen with the QR code
-personal information can be leaked
-limited transfer amount
-feels like fake money
Specifications
Can only see the feature if the account is registered in China , HongKong , and Malaysia . Accounts registered outside of these regions , would need to activate WeChat
Pay if needed .
Price Free
Review : WeChatPay
A convenient way for parents to give kids spending money
by Roshan Luo
Tencent developed
WeChat Pay in 2013 , two years after publicly releasing WeChat . It was developed so users could complete payments and transfers quickly with smartphones . In China , people pay their rent and bills with WeChat , and parents commonly give their kids monthly allowances on the app .
I used to use physical cash , but now , WeChat is indispensable for me .
In-App Features
WeChat does what cash does and it ’ s carried on the phone . It allows you to transfer an exact amount of money to others , so there won ’ t be small change or coins to deal with . Now when I go out , I don ’ t even bring my wallet so long as I have my phone .
WeChat pay can transfer money in various ways including QR codes , direct transfer through chat , and red packets . WeChat pay also has a feature called relative card , which gives a designated amount of money to someone monthly or weekly . If you are the kind of parent that forgets to give a monthly allowance to your child , this is the feature for you .
Strong Security
Many are concerned about whether WeChat pay is fully secure or not . WeChat pay has an independent password , meaning that its password is different from the login password , so there ’ s a very low chance of getting hacked by others . WeChat pay can be linked with your credit card , however , checking your credit card would require another password .
Though there are many advantages of WeChat Pay , there are also some issues . Such as , if a person
scans your QR code , he / she will be able to take as much money as they want . There is also an application called Ali Pay , which functions similarly to WeChat Pay ( but with more features ). I think the other flaw is that you can only transfer a limited amount of money per year which some people can find inconvenient . The transfers are limited to 200,000 RMB yearly .