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WeChat payment Five Forces Analysis

WeChat Pay’s Five Forces Analysis

WeChat Pay’s Five Forces analysis gives insights about the company’s strategic direction. WeChat Pay’s strategies must align to the external factors in the global payments industry’s environment.

Overview: WeChat Pay’s Five Forces Analysis

In this Five Forces analysis, WeChat Pay’s experiences the effects of external factors at varying intensities. The company must implement strategies to meet these external factors and minimize negative impact. In summary, WeChat Pay’s Five Forces analysis yields the following intensities of the five forces:

http://www.wendangku.net/doc/c18169ed10661ed9ac51f38e.html petitive rivalry or competition (strong force)

2.Bargaining power of buyers or customers (strong force)

3.Bargaining power of suppliers (weak force)

4.Threat of substitutes or substitution (strong force)

5.Threat of new entrants or new entry (strong force)

The results of the Five Forces analysis shows that WeChat Pay needs to prioritize the issues related to competition, consumers, and substitutes, all of which exert a strong force on the company. A possible course of action for WeChat Payment to address these issues is improvement. For example, the 0.1% commission for withdrawing over 1,000 should be abolished, with the service areas expanding. In addition, promotion is another way to maintain long-term development. Discount of payment would be efficient. Also, this Five Forces analysis shows that WeChat Payment can implement improvement and promotion to address competition and substitution in this saturated market.

Competitive Rivalry or Competition with WeChat Payment (Strong Force) WeChat Payment faces tough competition because the on-line payment market is already saturated. This element of the Five Forces analysis tackles the effect of

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