- #Bytedance chinese tiktok china wechat pay generator#
- #Bytedance chinese tiktok china wechat pay license#
Other players include JD.com's (9618.HK) JD Pay, Baidu (BIDU.O) Wallet and Meituan (3690.HK) Pay. Beijingbased ByteDance launched on Tuesday its thirdparty payment service for the Chinese version of its hit short video app TikTok, 'Douyin Pay', as it presses to expand into the ecommerce business in China. It provides a glimpse of what TikTok could eventually become, as Douyin started selling merchandise in 2017 and now operates a growing e-commerce operation where hundreds of millions of users shop on a daily basis.īyteDance's expansion comes as China's financial regulators are tightening oversight over financial technology firms, particularly companies such as Ant Group.Ĭhina's third-party payment sector is dominated by Alipay and WeChat Pay, with the former taking 55.39% of the total market in the second quarter of last year, according to market researcher Analysys. Beijing-based ByteDance recently launched its own third-party payment service for Douyin, the Chinese version of its hit short video app TikTok, as it presses to expand into the e-commerce business.
#Bytedance chinese tiktok china wechat pay generator#
The company, which denies the allegation, has been in talks for months with Walmart Inc (WMT.N) and Oracle Corp (ORCL.N) to shift such assets into a new entity.ĭouyin is the main revenue generator for ByteDance. ByteDance founder and Chief Executive Zhang Yiming built up the company's payment capability in China by acquiring Wuhan. Tiktok owner ByteDance is working on a Clubhouse like-app for China, according to sources familiar with the matter Last year, when ByteDance was at the center of U 20 to complete a deal for TikTok - the social app that has. Local Chinese media reported on Tuesday that Douyin Pay had been launched.
#Bytedance chinese tiktok china wechat pay license#
Hezhong Yibao obtained a third-party payment license from the central bank in 2014.īyteDance has been ordered by the outgoing Trump administration to divest TikTok's U.S. Bookmark function I got to know from recruiter from starting that there will be 3 technical round and 1 ByteDance founder and CEO Zhang Yiming built up the company's payment capability in China by acquiring Wuhan Hezhong Yibao Technology Co last year.
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