It’s settled! Starting from September 12, merchants on Taobao and Tmall will gradually enable WeChat payment.

On September 5, following yesterday’s announcement of plans to introduce the WeChat payment function, Taobao issued an official announcement today, announcing that it will gradually enable WeChat payment services for all Taobao and Tmall merchants starting from September 12.

As of 4 p.m. on the 5th, some merchants have received activation invitations.

According to the announcement released by Taobao Tmall yesterday, in order to enhance consumers’ shopping experience, Taobao plans to introduce the WeChat payment function and will make corresponding adjustments to the platform rules after the opinion collection is completed. This move marks that Taobao’s long-awaited full access to WeChat payment will soon become a reality.

As soon as this news was released, it aroused widespread attention and heated discussion, and the merchant community reacted particularly strongly to it. Many merchants have expressed support and generally believe that this move will help attract more users and increase the user base of merchants and platforms; at the same time, some merchants hope that Taobao can speed up the process so that merchants can use WeChat payment as soon as possible to improve business performance.

This interconnection is expected to bring a better shopping experience to consumers and create more business growth opportunities for merchants on the Taobao and Tmall platforms. Prior to this, some users who preferred to use WeChat payment and some users in lower-tier markets were unable to consume smoothly on the Taobao and Tmall platforms due to restrictions on payment methods. After Taobao introduces the WeChat payment function, this group of users may be converted into a new customer base for Taobao and Tmall merchants.

Consumers are also positive about this. As soon as the news was released, it quickly topped the hot search lists on many platforms. Consumers generally welcomed the news and looked forward to being able to use WeChat Pay on Taobao as soon as possible.

It is worth noting that many investment banks on Wall Street responded quickly. Morgan Stanley, Goldman Sachs and other institutions have released research reports, affirming Taobao's access to WeChat payment, and believe that the cooperation between the two parties will achieve a win-win situation.

Morgan Stanley clearly pointed out that this move is expected to help Taobao attract hundreds of millions of new users; while Goldman Sachs pointed out in its research report that the partnershipThis operation will help Taobao and Tmall expand new users in lower-tier cities and improve convenience for existing users.

In addition, Bloomberg Business Research also pointed out that Taobao’s access to WeChat Pay will weaken the market competitiveness of other competing platforms, believing that WeChat Pay will improve the convenience of consumption and help Taobao and Tmall obtain more gross merchandise volume (GMV).

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