According to WeChat Pay, personal payment codes will resume normal use after March 1, 2022. Due to some financial risk issues, vendors were banned from using personal payment codes to receive money for business purposes last year.
On February 22, the Payment & Clearing Association of China (PCAC) issued a notice on the optimization of barcode payment services, declaring that the current “personal payment code” will not be closed or discontinued. Simultaneously, a new “personal business payment code” has been rolled out, and on the premise of maintaining its original service and experience, users can enjoy more efficient transaction services.
WeChat Pay said that based on the transactions of users’ accounts, invitations will be sent to those users who might have their own personal business activities successively through WeChat payment assistant. These users will then be offered a personal business payment code after they voluntarily receive the invitation.
The “personal payment code” and the “personal business payment code” can be used simultaneously without affecting each other. It’s also worth mentioning that WeChat Pay offers more supports and functions for personal business payment code’s users. For instance, users who apply for a personal business payment code can receive free supporting materials and enjoy more rights and services on WeChat Pay such as business account books and business analysis.
These special rights and services will also be gradually opened to ordinary users to enjoy the same treatment after the application is completed. Additionally, the user’s original personal payment code can still be used.
