Cross-border: WeChat pay VS Alipay_Reindeer Station Ningbo – Expat Services for Easy Relocation to Ningbo

Cross-border: WeChat pay VS Alipay


WeChat cross border

WeChat Crossborder Payment (WePay) is not particularly new, but to a lot of businesses outside China it can still seem like magic.


The concept is simple: customers pay with their regular WeChat account in RMB, and the money directly arrives in your oversea account in the local currency. As of today (October 11th) , it supports 8 foreign currencies: USD, Euro, Australian dollar, Singapore dollar, Korean won, Japanese yen, British Pound and Hong Kong dollar.

How to apply?


  • The application can be handled from WeChat crossborder payment website.

  • Go to the following url:

  • When applying, select “WeChat Official Account Payment checkbox”


What are the fees?

  • Account creation fee: free

  • Transaction fee: 3%

  • Settlement date: T +1  (T means transaction date)

  • Minimal settlement amount:  5000 USD

  • Bank fee: shared  (Tenpay covers bank fee for transferring money out from the Chinese bank; other charges such as cost of intermediary banks or receiving banks are covered by account owner)

What are the requirements?


  • Any foreign company can apply.

  • But there is a catch: you will need to have a China visible WeChat Official Account (OA). Two ways you can apply for this type of account:

    1. For most companies, you need to find a local company who has Chinese business license to apply for a Chinese OA.

    2. For foreign companies who is exporting a physical product to China, you can create a Chinese OA with your foreign business license.

  • You will also need a local company (with a Chinese business license) to enter the agreement and take part of the legal risk (contact for further information about this process)

  • Application process lasts for about two months (as of today)


Alipay Cross-border

Alipay cross-border is an alternative payment solution. It has been around for longer and it is more widely used today.  The drawback is that Alipay is not accessible through WeChat and there is a 1000USD setup fee (this policy may evolve over time).



Here is a graph showing the side by side comparison of WeChat Crossborder and Alipay Crossborder.












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