Competition in China's digital payment market is set to intensify as Bilibili, a popular online videosharing and entertainment platform, has obtained a payment license after acquiring a majority stake in an online payment company, industry experts said on Tuesday.
Competition in China's digital payment market is set to intensify as Bilibili, a popular online videosharing and entertainment platform, has obtained a payment license after acquiring a majority stake in an online payment company, industry experts said on Tuesday.
The surprise resignation of ByteDance founder Zhang Yiming as chief executive has left many unanswered questions at the tech unicorn, not the least being "why now" and "what's next" for the company behind hit short video-sharing apps Tik Tok and Douyin. Perhaps the most intriguing question is whether Zhang, who created ByteDance in a Beijing residential flat nine years ago, will remain the de facto boss after he officially cedes day-to-day.
From:ChinaDaily | 2021-01-21 09:17
Popular short video app Douyin has entered China s massive digital payment market with its mobile payment services, looking to tap into the sector which has among others Alibaba Group Holding Ltd s Alipay and Tencent Holdings Ltd s WeChat Pay.
While making a purchase via Douyin, customers can choose to pay via Douyin Pay , in addition to Alipay and WeChat Pay, the more conventional online payment options offered by third-party payment firms.
The setup of Douyin Pay is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin , said ByteDance, the company behind Douyin, told China Daily on Wednesday. It said the new function was launched only recently but had gone through several batches of test runs.