Tencent Rolls-Out Payment Service

News: China-based internet firm Tencent launched a payment service through its mobile communication platform WeChat. The service enables online transactions for selected merchants via WeChat. Online transactions can be done via credit card, online banking or TenPay, the firm's third-party payment platform, which enables merchants to receive payments from customers' personal accounts. Tencent will also manage all backend technical integration and support for these merchants, including payment linkups and page design, according to Tencent. The firm is also seeking options to monetise its user base without charging for the app.

This article is tagged to:
Sector: Telecommunications
Geography: China

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