The new service is set to put Tencent in strong competition with rival Alibaba for the mobile payments market.
However, the question remains how is QQ Wallet going to be different from Tencent’s WeChat payment service.
According to the source, the number of active users on QQ is at least 80 million, while that of IM QQ is 550 million. Additionally, QQ Wallet could help penetrate the market in the remote areas into which WeChat has not forayed.
Currently, Alipay has 400 million users, while IM QQ and WeChat are expected to become dominant players in the mobile payments market, with 500 million users.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright