Chinese multi-purpose messaging app WeChat introduced a new payment device on August 27 named the “Frog Pro” at the Chongqing Smart China Expo in an effort to upgrade its offline payments.
PayPal has been negotiating incessantly with Chinese regulators for the past four years to obtain a payment license to enter the large market, as The Paper reported on August 10.
China has rapidly developed into the world's long-standing leader in mobile payments. Foreigners visiting China are always surprised by the prevalence of convenient mobile payments. In recent years, Alibaba and Tencent has accelerated their overseas development, especially in Southeast Asia.