Hey OP, Thanks for your guide. I am from India where we have similar analouges such as PayTM and PhonePe. While Paytm is ubiquitous, cash is still king here.
I also had a chuckle when you had to explain so precisely the mechanism of how money is transferred between wechat accounts. I guess that is probably due to the fact that people in the west have very less experience with such services.
As an interesting additional thing, a new thing called UPI (unified Payments Interface) has been running in India. It basically allows you ti use your bank account like a wechat wallet. It is really popular among the young demographic and is gaining a wider acceptance due to less fees and no need of handing your money over to a company like Paytm or Wechat first. Money travels from bank account to bank account instantly with no fees.
I also had a chuckle when you had to explain so precisely the mechanism of how money is transferred between wechat accounts. I guess that is probably due to the fact that people in the west have very less experience with such services.
As an interesting additional thing, a new thing called UPI (unified Payments Interface) has been running in India. It basically allows you ti use your bank account like a wechat wallet. It is really popular among the young demographic and is gaining a wider acceptance due to less fees and no need of handing your money over to a company like Paytm or Wechat first. Money travels from bank account to bank account instantly with no fees.