The wechat wallet also enables users to pay bills, recharge mobiles, make purchases online and transfer money to other users and make QR code payment at merchant stores. The wechat wallet helps users to buy wealth management products, virtual currency, and gifting products. WeChat, which was developed by Tencent in 2011, is one of the top five instant messaging apps globally. Tencent was founded by Ma Huateng, Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing in November 1998 as Tencent Inc.
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