![]() The highest rate, 8 per cent, applies to wedding services. On Twitter, Facebook, Google News, and Instagram. For example, restaurants will pay 2.5 per cent of the order's transaction amount, while hotels will be charged 4.5 per cent. Reporting by Yingzhi Yang and Brenda Goh.įollow HT Tech for the latest tech news and reviews, also keep up with us Other players include JD.com's JD Pay, Baidu Wallet and Meituan Pay. It provides a glimpse of what TikTok could eventually become, as Douyin started selling merchandise in 2017 and now operates a growing e-commerce operation where hundreds of millions of users shop on a daily basis.īyteDance's expansion comes as China's financial regulators are tightening oversight over financial technology firms, particularly companies such as Ant Group.Ĭhina's third-party payment sector is dominated by Alipay and WeChat Pay, with the former taking 55.39% of the total market in the second quarter of last year, according to market researcher Analysys. The company, which denies the allegation, has been in talks for months with Walmart Inc and Oracle Corp to shift such assets into a new entity.ĭouyin is the main revenue generator for ByteDance. ![]() Hezhong Yibao obtained a third-party payment license from the central bank in 2014.īyteDance has been ordered by the outgoing Trump administration to divest TikTok's U.S. ![]() Local Chinese media reported on Tuesday that Douyin Pay had been launched.īyteDance founder and Chief Executive Zhang Yiming built up the company's payment capability in China by acquiring Wuhan Hezhong Yibao Technology Co last year. ![]()
0 Comments
Leave a Reply. |