Known locally as Weixin, WeChat had 438 million monthly active users globally, mostly in China, at the end of June, and has rapidly evolved from a messaging tool into a digital Swiss Army knife, allowing users to send messages, play games, book taxis and shop online. The app has proved a winning formula in getting people in China, a market notorious for not paying for software, to connect their bank accounts with their phones and pay for virtual goods like extra lives and power-ups in mobile games. Apple takes a 30 percent cut on all sales. Apple makes all software sales on the iPhone go through its App Store. WeChat, which itself hosts apps and games made by other developers, is no different. The cash from any products sold on the app are split between Apple, Tencent and the developer.
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