Tencent registers 20% share of online payments in China

Monday 8 December 2014 13:09 CET | News

Tenpay, operated by Tencent, had a 20% share of the market as of Q3 2014, while Alipay, owned by Alibaba, had a 49.2% share, a recent report revealed.

According to a report conducted by iResearch, the Tencent mobile payment platforms have registered rapid growth. Running on the Tenpay infrastructure, Weixin Payment and QQ Wallet are mobile payment products built on the Weixin and QQ platforms, respectively.

Alipay (owned by Alibaba), Tenpay (owned by Tencent) and UnionPay (owned by the government) currently dominate Chinas mobile online payment sector with over 80% of the total market share, China Internet Watch indicates.

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Keywords: Tencent, online payments, China, Alipay, Alibaba, Tenpay
Categories: Payments & Commerce
Countries: World
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