Wechat Pay System User Service Agreement

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We comply with the provisions of the Digital Millennium Copyright Act, which applies to Internet service providers (17.C. No. 512 in its amended version (the “DMCA”). If you have a complaint about intellectual property rights regarding content published in WeChat, please follow the instructions of our copyright policy. WeChat Pay`s main competitor in China and leader in the online payments market is Alibaba`s Alipay. Alibaba founder Jack Ma called the red cover function a “Pearl Harbor Moment” because it began undermining Alipay`s historical dominance in China`s online payments industry, particularly in peer-to-peer money transfers. The success led Alibaba to launch its own version of virtual red envelopes in its rival laiwang service. Other competitors, Baidu Wallet and Sina Weibo, have also launched similar features. [45] WeChat had more than 889 million monthly active users in 2016. From 2019, weChat`s monthly users are increased to one billion. After the launch of the WeChat payment in 2013, users reached 400 million next year,[25][26] [27] 90 percent were in China. [28] By comparison: Facebook Messenger and WhatsApp had about one billion monthly active users in 2016, [3] [29] So in the second quarter of 2017, WeChat`s revenue from social media advertising was about $0.9 billion (RMB6 billion) compared to Facebook`s total revenue of $9.3 billion , 98% of which came from social media advertising.

WeChat`s revenue on its value-added services was $5.5 billion. [30] We may indicate under certain conditions specific to our WeChat service that you are entering into a contract with one of our affiliates (instead of Tencent International Services Europe BV or Tencent International Service Pte). Ltd., if applicable) with respect to the use of the WeChat service or features for which the specific terms of service apply. In this case, the awarding entity concerned is identified in WeChat`s specific terms of service and these conditions (including specific service conditions) apply between you and the adjudicating entity identified with respect to the use of the WeChat service or functionality in question. In 2016, WeChat collaborated with 60 Italian companies (WeChat had an office in Milan) that were able to sell their products and services in the Chinese market without obtaining a license to operate a business in China. [85] In 2017, Andrea Ghizzoni, Tencent`s pan-European director, said 95% of global luxury brands used WeChat. [85] In 2014, Burberry collaborated with WeChat to develop its own WeChat apps around the Fall 2014 show, which offers users live streams of broadcasts. [81] Another brand, Michael Kors, used WeChat to provide live updates to his catwalk show and later organize a “Chic Together WeChat” photo contest. [82] If you believe that we have charged you in error and in accordance with applicable laws and regulations: (a) you must contact us within 30 days of the date of the corresponding tax; and b) no refund is granted for the erroneous costs at the end of those thirty days.

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