Account holders will be able to verify their identities and open personal stock exchange accounts using the platform’s facial recognition function via their smartphones. Currently in its final testing phase, Tencent has not yet specified the exact launch date or full details of the new service.
Users will be able to purchase and sell stocks via WeChat’s e-wallet function, which also enables users to send money transfers, purchase transport and cinema tickets, invest in online financial products, and access other services.
In order to register on Tencent’s platform, users will be required to upload one of a number of documents to verify their identity and then capture their face using their smartphone to ensure that the two photos match.
In the past, customers would be required to visit securities firms in person or engage in a video chat to confirm their identity. The online trading platform will operate under Tenpay, Tencent’s online payment service that currently has over 16 million registered users.
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