Tencent Holdings, operator of China’s biggest social media app and the world’s largest video gaming business by revenue, beat analyst estimates with a 47 per cent profit jump in the third quarter, helped by renewed growth in the video gaming segment. Profit reached 53.2 billion yuan (US$7.4 billion) in the three months ended September, up … Read more
Tokenisation could drive real-time cross-border payments, Ant Group CEO Eric Jing Xiandong told an audience at Hong Kong FinTech Week on Monday, a topic he elaborated on while extolling the progress that Alipay has made in the city. “With tokenised deposits, that’s a really, really, really huge value for cross-border payments,” Jing said in a … Read more
Taobao and Tmall Group, Alibaba’s domestic e-commerce business unit, launched at 8pm on Monday the presale stage of its promotion for Singles’ Day – also known as 11.11 or Double 11, referring to the shopping extravaganza originally observed on November 11 – as the company anticipates a record-high volume of users taking part in this … Read more
Tencent Holdings’ WeChat Pay, one of China’s dominant digital payment platforms, saw a jump in transactions during the “golden week” national holiday, as consumer spending shows signs of recovery after Beijing rolled out its biggest stimulus package since the pandemic. Known as Weixin Pay on the mainland, the digital wallet recorded a 20 per cent … Read more
Chinese tech giants providing dining and travel-booking services saw consumer spending surge on their platforms during the “golden week” National Day holiday, according to data released by on-demand local services firms including Meituan and ByteDance-owned Douyin, the Chinese version of TikTok. During the first five days of the annual break, which ran this year from … Read more
Alibaba Group Holding has earmarked at least 40 billion yuan (US$5.7 billion) worth of resources to help merchants on Taobao and Tmall during the Singles’ Day shopping festival, as the e-commerce giant fights to protect its core business in an increasingly competitive market. The largest shopping platforms owned by Alibaba, which also owns the South … Read more
Chinese social media giant Tencent Holdings has introduced its palm-recognition technology in Macau, allowing mainland tourists to pay in shops by holding their hands over a scanner, using its WeChat Pay service. This is the first time that Tencent’s WeChat Pay, known as Weixin Pay domestically, has made palm payments available outside the mainland. In … Read more
Alibaba Group Holding’s plan to finally accept Tencent Holding’s WeChat Pay for purchases on its online marketplaces Taobao and Tmall is expected to help the e-commerce giant attract older consumers, as well as shoppers in lower-tier cities, according to merchants and analysts. Following Alibaba’s announcement to incorporate WeChat Pay, known locally as Weixin Pay, as … Read more
Tencent Holdings is shutting down WeChat Pay Malaysia, the Chinese technology giant’s six-year old local e-wallet service, as it seeks to shift its focus in the Southeast Asian country to catering to Chinese tourists. WeChat Pay Malaysia stopped registering new e-wallet users from August 1, and will discontinue its local payment services on September 1 … Read more
Tencent Holdings’ WeChat Pay can now be used by mainland Chinese tourists in the Maldives, as the expanded coverage of the firm’s popular digital wallet rides on the recovery of China’s outbound travel. The Chinese tech giant on Monday signed a three-year deal with the tourism authorities of the Republic of Maldives to jointly promote … Read more
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