BYTEDANCE DOUYIN PAY CHINA WECHAT PAY GENERATOR
BYTEDANCE DOUYIN PAY CHINA WECHAT PAY LICENSE

The country’s mobile banking market logged some CNH 56.2 trillion ($8 trillion) worth of transactions in the last three months of 2019, according to domestic consultancy Analysys. 5 Attraverso lapp, gli utenti possono creare brevi clip musicali di durata variabile (dai 15 ai 180 secondi ) ed eventualmente modificare la velocità di riproduzione, aggiungere filtri, effetti particolari e suoni ai loro video. Other internet giants, such as e-commerce giant JD.com and food delivery service Meituan, have also established their own payment methods. TikTok, conosciuto anche come Douyin ( S, Duyn P) in Cina, è un social network cinese lanciato nel settembre 2016, inizialmente con il nome musical.ly.

The licence allows Douyin, Toutiao and other ByteDance services to offer payment features. Last September, a company controlled by ByteDance founder, Zhang Yiming, bought out a payments solution provider called, Wuhan Hezhong Yibao Technology. See also: Ant sets up working group to overcome Chinese regulatory requirements Its first-quarter figure represents a 130% growth in revenue year-over-year, according to Reuters, which makes the move towards payments seems like a natural progression for the company to want in on the action.īyteDance snapped up a payments licence by acquiring a third-party payments firm. Now, users of the app can checkout and pay for goods using Douyin Pay instead of other options.ĭouyin’s parent, ByteDance, the Chinese start-up behind TikTok and other popular social networking apps reportedly generated $5.6 billion in revenue in the first three months of 2020. “The set-up of Douyin Pay is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin,” a Douyin spokesperson tells Reuters.īrands and retailers can already redirect users to a product page by including a link in a video. Other players include JD.com's JD Pay, Baidu Wallet and Meituan Pay.Douyin Pay (Douyin Zhifu) has been added to the app’s options. 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. ByteDance China CEO Kelly Zhang says Douyin, China’s version of TikTok, is becoming a more social platform because its links are blocked on WeChat, becoming another volley of words between the.

BYTEDANCE DOUYIN PAY CHINA WECHAT PAY GENERATOR

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. Alipay and WeChat Pay are the major mobile payment players in China.

The set-up of Douyin Pay is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin, Douyin stated in.

BYTEDANCE DOUYIN PAY CHINA WECHAT PAY LICENSE

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 US assets on national security concerns. Focus on authentic, high-quality products. ByteDance has launched its third party payment support for its Chinese version of its hit brief video app TikTok,Douyin Pay, as it presses to enlarge in the e-commerce company in China. Users of Douyin, which accumulated 600 million daily active users, previously could use Ant Group’s Alipay and Tencent Holdings’ WeChat Pay, the country’s two ubiquitous third-party mobile payment channels, to buy virtual gifts for livestreamers or items from shops on the platform.īyteDance founder and CEO Zhang Yiming built up the company’s payment capability in China by acquiring Wuhan Hezhong Yibao Technology Co last year. “The set-up of Douyin Pay is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin,” Douyin said in a statement. BEIJING: Beijing-based ByteDance launched on Jan 19 its third-party payment service for the Chinese version of its hit short video app TikTok, Douyin Pay, as it presses to expand into the e-commerce business in China.

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