WeChat Wallet launched in South Africa

WeChat has launched a mobile wallet service in South Africa in partnership with Standard Bank.

The serviceĀ lets you load money from your bank accounts, using your bank card, into the wallet.

It will also be able to load cash at participating retailers, or using the Standard Bank app or Internet banking.

Loading cash attracts a flat fee of R9.95.

Once there is money in your wallet, you can transfer money to contacts on WeChat, or make payments at merchants who support the service.

WeChat uses the SnapScan mobile payments system, which means its local subscribers can also pay a merchant that uses SnapScan.

To transfer money, you have to FICA your account by taking a photo of your IDĀ and sending that to the WeChat Wallet service within the app.

It is also possible to withdraw cash from the wallet at Standard Bank ATMs and participating retailers, including Spar, Cambridge, Rhino and Choppies stores.

Withdrawals attract a flat fee of R10 per transaction.

There is currently a daily transaction limit on the wallet of R5,000, and a monthly limit of R25,000.

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WeChat Wallet launched in South Africa