![]() The launch of Douyin Pay appears to coincide with the 2021 Lunar New Year holiday one of the big days in China. The English, Chinese, Japanese, Arabic, French, and Spanish versions are automatically generated by the system. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.TikTok’s Chinese owner has rolled out an e-wallet feature on its Douyin video-sharing app, a move that could pose a significant threat to the Alipay and WeChat duopoly in China’s mobile payment sector. Bytedance’s ambition to tap into the payment sector have long been hampered by China’s strict finance regulations.Why it matters: Douyin, the domestic version of TikTok, is one of China’s most used apps with 600 million monthly active users as of September. E-commerce behemoth Alibaba’s Alipay and internet firm Tencent’s WeChat Pay, a feature inside the instant messaging app WeChat, are the two dominant players in the market.The company in September inherited (in Chinese) a payment license from a small payment firm based in the central province of Hubei it acquired two years ago. Together they hold nearly 95% of China’s online payment market, according to iResearch (in Chinese), a market research firm.ĭetails: Douyin recently added Douyin Pay onto its checkout page, Chinese media reported Tuesday. The app previously supported WeChat Pay and Alipay.Bytedance said in a statement to TechNode that Douyin Pay was rolled out by the company to “supplement the existing major payment options.” A Bytedance spokesperson said the feature had been available for a while and was previously in test mode.The payment method allows users to buy virtual gifts for livestreamers and pay for goods on the app’s e-commerce platform. “ByteDance’s accusations are purely fabricated, and are a form of malicious framing,” said Tencent.Payments are processed by Ulpay, the Hubei-based firm it acquired in 2018.Ĭontext: An in-house payment tool is essential to many of Bytedance’s offerings, including e-commerce and lending services.Douyin Pay allows users to link cards from 10 banks including Bank of China and China Merchants Bank. Tencent said in a statement that it “abides by fair competition and the concepts of open cooperation in providing its services to users and third party products.” ![]() Because there are currently no other operators on the Chinese market that provide services on the same level as WeChat and QQ, ByteDance says that Tencent possesses “market allocation position.” ByteDance said that this has made them “foundational applications” with the largest number of Internet users in China, as well as the highest penetration and usage rates.Īccording to ByteDance the sharing function of instant messaging services as well as their network effects mean that users cannot migrate en masse. Tencent’s WeChat and QQ instant messaging platforms have monthly active users of over 1.2 billion and 600 billion respectively. On 2 February ByteDance filed a lawsuit against Tencent at the Beijing Intellectual Property Court, alleging that Tencent’s restrictions on the sharing of Douyin (the Chinese counterpart to TikTok) content by users of the WeChat and QQ platforms is in breach of China’s Anti-Trust Law.īyteDance claims that such conduct by Tencent breaches the Anti-Trust Law’s provisions on “monopoly conduct the abuses market allocation positions, and excludes or restricts competition.” It has requested that the court order Tencent to immediately cease such behaviour, as well as provide 90 million yuan in compensation to ByteDance for economic damages. The case is the first anti-trust legal dispute involving Internet platforms to be heard by a Chinese court of law since the release of the “ Anti-monopoly Guidelines for the Platform Economic Sphere” (关于平台经济领域的反垄断指南(征求意见稿)) in November, which specifically targets monopoly conduct by online companies. The Beijing Intellectual Property Court (北京知识产权法院) announced on 7 February the launch of its official hearing into the anti-trust dispute between TikTok-owner ByteDance and Chinese social media giant Tencent. A legal battle between two of China’s leading online tech giants has taken a major step forward after a court in Beijing agreed to hear their dispute.
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