WeChatPay, 58Pay and Tag Media Group merged in the Philippines to prepare for the influx of Chinese tourists

WeChatPay from China expansion has been focused on Chinese tourists abroad rather than launching local versions of the platform.

Right now, there’s an ongoing orientation and training of the platform which was launch recently in the Philippines by some of the companies under Yupangco Group (Filremit, Yupangco Electronics Corporation, Manila Express, Zoomanity Group, Yamaha Music among others). Now launched as 58Pay with Bong De Ocampo and Robert Laurel Yupangco as partners and recently introduced to the public with the media at UnliCity, Century City Mall, Makati.

Contract Signing between WeChatPay and Tag Media

According to WeChatPay, “We focused on expanding the payments service abroad, but it has stopped short of trying to create a local version of the platform for other countries. Instead, the company has been focused on signing up merchants in many countries to accept the payment system so Chinese tourists can use the payments platform abroad and right now in the Philippines.”

According to Engr. Grace Bondad Nicolas, one of the partners of 58Pay, “We are looking for merchants which Chinese tourists are fond to go , just like some outlets and duty free, some famous restaurants like Samgyupsalamat, theme parks, hotels and companies like Air Asia & Jeju Air.”

In the Philippines, the expectation is to increase the Chinese tourist especially now that the Duterte administration has a good relationship with China.

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