Peer-to-peer in the same way that PayPal is peer-to-peer. There's still a central entity somewhere holding all the money and data.
The "feature" of WeChat is that it can be used for almost anything. It is a cash successor more so that a card alternative. Anyone can print, display or scan a QR code. Doesn't matter if it is a store, a friend or a random person. Doesn't matter if it is in the physical world, on a website or in a chat. And it is easy to do. And almost everyone uses it.
Contactless cards only matches WeChat in the same way something like Apple Pay does.
The more secure analogy comparable in price would be solutions like Square and PayPal Here. Smartphones are ubiquitous.