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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