The competition among “everything-apps” is set to get heated up. The cause is the arrival of X, which Twitter hatched.
At least, that is what billionaire Elon Musk intends to accomplish after spending $44 billion to buy the popular microblogging platform, which he renamed X on Monday.
Or not yet: the third-party apps, mobile payment platform, and digital giving service known as “red packets” — these are key features WeChat offers that make it useful and contribute to its popularity.
Over 10 million third-party apps are available on WeChat. Developed by Tencent, a Chinese company, WeChat is predominantly used in China — with an estimated 1 billion users.
WeChat vs X
WeChat has taken the upper hand in global digital payments — opening so many doors for businesses and transactions on the platform.
A number of YouTubers rave about how they were able to link WeChat Pay with their foreign banks, without necessarily securing a Chinese bank account.
WeChat vs X: Similarities/differences
X is poised to enter the finance realm WeChat has completely dominated. It is understood that X’s move would initially target a service rollout in the US, where microblogging has a wide herd of adherents.
What are the similarities and differences between the two? They do have distinct features and purposes:
Social Networking: Both WeChat and Twitter are social networking platforms that allow users to connect with others, share content, and interact with posts.
Messaging: Both platforms offer messaging capabilities. Twitter allows users to send direct messages (DMs) to each other. WeChat, on the other hand, is primarily known for its messaging features — enabling users to send text messages, voice messages, images, and videos to their contacts.
Content Sharing: On both WeChat Moments and Twitter feeds, users can share content with their followers, such as text updates, photos, and videos.
Made for mobile: Both platforms are primarily used on mobile devices, and they have dedicated apps for iOS and Android.
Audience and Reach: WeChat has a large user base primarily concentrated in China, with over a billion active users as of 2021. Twitter, while popular worldwide, has a smaller user base compared to WeChat.
Country of Origin: WeChat is developed by Tencent, a Chinese company, and is predominantly used in China. Twitter, on the other hand, is a US-based platform that is widely used globally.
Features and Functions: WeChat is an all-in-one app that offers a wide range of services beyond social networking — including mobile payments, ride-hailing, food delivery, and more. Twitter (now X), however, focuses primarily on social networking and microblogging, where users can post short messages (tweets) of up to 280 characters (expanded recently for certain users).
Hashtags: X popularised the use of hashtags to categorise and discover content. While WeChat allows the use of hashtags, they are not as central to the platform’s functionality as they are on Twitter.
Global vs. Local: X is a global platform used by people from various countries, making it a diverse platform for discussions and news sharing. WeChat, on the othr hand, is mainly used within China and serves as a vital communication tool within the country.
X is finally arriving! 🔥
X will be an “everything app” i.e. super app for U.S. (like WeChat of China)
• Social: network, msgs, video, content
• Finance: banking, payments, data
“Overtime it would be HALF of global financial system” – Elon Muskpic.twitter.com/wWywAdYRZR
— Brandon Hoffman (@BrandonHoffman_) July 14, 2023