With the increasing number of Chinese tourists and the growth of mobile payment users, Asia United Bank Corp (AUB) Philippines work together with Tencent to launch WeChat payment service in the Philippines.
How do Philippines companies open WeChat cross-border payment? Here please let me talk about the detailed process below:
Conditions for Philippines companies to open WeChat cross-border payment:
• Online payment including websites or applets
Conditions: business registration, corporate bank account number, legal person or shareholder ID photo, website address
• Offline payment including convenience stores, supermarkets, restaurants and etc.
Conditions: Business registration, corporate bank account number, legal person or shareholder ID photo, storefront and in-store photos
Conditions for Philippines individuals to open WeChat cross-border payment:
The offline stores run by individuals including restaurant, convenience stores and department stores
PHILIPPINES WeChat cross-border payment transaction rate
• Offline: Around 2.0%
• Online: Around 2.2%
PHILIPPINES WeChat cross-border payment settlement cycle:
• T+1 ( Via AUB)
• T+2 (Via other banks)）
The settlement will be done via AUB to the merchant‘s Philippine bank account. We can open WeChat cross-border payment for you free of charge quickly, as quickly as 3-5 days.
How do PHILIPPINES companies get WeChat cross-border official account?
PHILIPPINES companies can register the WeChat official account with the overseas entity. To get certified with PHILIPPINES corporate entity, the applets are available. To apply for a PHILIPPINES cross-border official account and applets, please contact us at firstname.lastname@example.org to get a fast and convenient to get Wechat official account certification.