WeChat has informed registered WeChat Wallet users in South Africa that the service will effectively shut down on 30 June 2020.
WeChat launched its wallet feature in South Africa at the end of 2015 in partnership with Standard Bank.
The service used the SnapScan mobile payments system, which allowed users to pay merchants that support SnapScan.
There were teething problems with the platform, including issues where transactions would fail to reach merchants but money would still be deducted from a user’s account.
The company announced that all WeChat Wallet users will become Standard Bank Instant Money users.
“You will not be able to perform any other transactions in WeChat Wallet. We sincerely apologise for any inconvenience,” WeChat announced.
“You will still be able to access your account through Instant Money using the USSD code *120*212#.”
WeChat promised users that this USSD code would be available forever for them to access what was previously their WeChat Wallet funds.
Users who wish to withdraw their funds using the WeChat Wallet app have until the end of the month to do so.
“After withdrawal, the balance will be sent to you through SMS in the form of a Standard Bank Instant Money voucher,” WeChat said.
“WeChat as a company is currently exploring different areas of growth in Africa. We’re thankful for your support of the WeChat Wallet.”