WeChat Pay is one of the leading mobile payment platforms in China. The SME sector is one of the target customer groups WeChat wants to help with its ESG (environmental, social, and governance) efforts to facilitate financial inclusion. SMEs are characterized by diverse needs but limited financial, technological, and human resources. WeChat Pay wants to leverage its technological strengths to provide the products that can address the pain points of SMEs.
This case illustrates the challenges that WeChat has faced during its efforts to develop technologies that can meet the various needs of SMEs. The case gives students an opportunity to discuss such topics as why companies like WeChat need to include ESG strategies, and how leading companies can develop IT solutions that are useful for SME users. After studying this case, students will be able to suggest how to make sustainable ESG efforts, instead of as window dressing, and how to develop technologies that the potential users will accept and use.
After studying this case, students will be able to:
1. Understand the concept of environmental, social, and governance (ESG) strategies and their implications for corporate management.
2. Identify the pain points of working with SMEs.
3. Propose and implement IT solutions that potential users will accept and use use.
4. Differentiate sustainable ESG efforts from greenwashing and suggest value-added ESG initiatives.