WeChat Pay, a payment solution in WeChat. It's available in 117 countries that allows users to make swift and secure payments via Quick Pay, QR Code Payments, In-App Web-Based Payments, and Native In-App Payments. It started in China and was called “Weixin Pay”. Through the years it became one of the dominant fintech services in China and the largest competitor to Alipay – owned by Alibaba.
They are now available in over 60 countries and regions, primarily in Asia, but also in Europe, North America, and Oceania. To go along with this huge expansion, they localized their app to at least five other languages, including English, Chinese, Japanese, Korean, and Thai among others.
Offering this number of languages has been beneficial for WeChat Pay as it helped them to increase the accessibility to users in diverse countries and regions, simplifying the platform use. Fintech localization helped the app to expand its reach beyond Chinese-speaking users and appeal to a broader international audience. This has helped to increase its users base, transactions, and revenue generated through the platform.
TransferWise or Wise has a great story. Wise purpose is “Building money without borders — making it move faster, more conveniently, and eventually for free”.
They started in 2011 and now available in over fifty countries including Turkey, and India. According to them 30% of their customers prefer a non-English language. TransferWise is adopting a multi-faceted approach to localize their advertisements, including customizing the copy, creative elements, and voiceovers. Their strategy to establish themselves as the go-to transfer method is reinforced by featuring local skylines and highlighting the unique essence of each country.
Fintech localization helped in their growth among other factors. This is how localization helped them:
- Meeting the unique needs and preferences of customers in different markets, leading to the expansion of its customer base and increasing the adoption of its platform.
- Tailoring Wise’s messaging and advertising to resonate with customers in different markets led to brand awareness and loyalty in different regions.
- Fintech localization has been an effective key for global growth strategy to establish a strong presence in different markets and to differentiate itself from competitors.