Singapore electronic payments provider Nets has held talks with Tencent Holdings’ WeChat Pay to allow users of its digital wallet NetsPay to make mobile payments in mainland China, said people familiar with the discussions.
Under the partnership, NetsPay users will be able to scan QR codes in stores that accept WeChat Pay on the mainland and settle purchases in Singapore dollars. Negotiations are still on and a final deal has not yet been reached.
If finalised, NetsPay will be the first third-party digital wallet to link with WeChat for cross-border payments in China. It would be convenient for overseas visitors in China due to the prevalence of mobile payments.