Tencent's Tenpay Launches WeLePay Card: Replacing Physical Department Store Cards with WeChat Pay
On October 24th, Tencent's Tenpay announced a joint cooperation press conference with New World Department Store to introduce a virtual prepaid card based on the WeChat application —— the New World Department Store "WeLePay" card. This product aims to replace physical department store cards, allowing users to complete processes such as recharging and payments via WeChat.
According to the introduction, through the "WeLePay" card, users can shop at New World Department Stores without needing to carry a physical card. During payment, they simply open the virtual barcode interface, and cashiers can use POS scanners for deduction. Additionally, users can check their balance, points, and promotional discount information through the official WeChat account and directly recharge the "WeLePay" card via WeChat.
Based on this collaboration, Tencent's Tenpay and New World Department Store have achieved member interoperability and have assigned a technical team of fifty people. Currently, the New World Department Store "WeLePay" card has been implemented in the Shanghai Paris Spring Pujian branch of New World Department Store in Hong Kong and will gradually be launched in multiple branches in Shanghai, Beijing, Wuhan, and more.
Tenpay from Tencent stated that the "WeLePay" card integrates membership cards, point cards, and prepaid cards into one, helping New World Department Store consolidate information flow, capital flow, and CRM systems through a virtual card format. Users can independently complete processes like card opening, recharging, and payment all within WeChat.
The "WeLePay" card is seen internally by Tencent as a further deepening of its O2O strategy. The launch of the "WeLePay" card marks the beginning of the WeLePay brand and also serves as one of the "three horses" of the Tenpay payment system following quick pay, WeChat, and the mobile QQ platform for mobile payments.
Lai Zhiming, General Manager of Tencent's Tenpay, expressed that "WeLePay" will become the carrier for Tenpay to jointly explore the prepaid card market with other prepaid card institutions. In the future, "WeLePay" will integrate more prepaid card institutions, forming an open platform comprising prepaid cards, Color Bean points, and customer CRM systems, becoming a new method of mobile payment.