Tencent Links PayPal to WeChat Pay, Opening China’s QR Network to US Users (0700.HK)

Tencent Holdings Ltd. (0700.HK) announced on May 27, 2026, that U.S. PayPal users can now complete purchases across China using WeChat Pay’s QR-code merchant network, connecting its TenPay Global cross-border platform to PayPal World. The integration will roll out to other markets in phases. To spur usage, Tencent is offering temporary fee waivers for foreign bank cards linked to WeChat Pay through 2026, and plans expanded language support and on-the-ground assistance in Shenzhen ahead of the APEC meeting in November. WeChat Pay and Ant Group’s Alipay dominate the world’s largest mobile payments market, handling everyday transactions across China’s retail, transport and services sectors.