ByteDance steps into mobile payments - Mobile World Live

ByteDance steps into mobile payments

19 JAN 2021

ByteDance launched a mobile payment service under the Chinese version of its TikTok brand, South China Morning Post reported, placing the company head-to-head with dominant rivals Alipay and WeChat Pay.

The newspaper reported comments from the company confirming the availability of Douyin Pay in China, with a representative adding it planned to supplement local payment options while enhancing the range of services it offers users of its core app.

Douyin is the Chinese version of short-form video sharing app TikTok, the brand used across most of the rest of the world. ByteDance also owns a number of other media and messaging apps including workplace collaboration tool Lark and India-focused social network Helo.

By making a play in China’s mobile payment sector, it goes up against massive and well-established brands including Tencent-owned WeChat Pay and Ant Group’s Alipay, which dominate the market.

The owners of the two principals also have interests in several financial services companies across a number of other markets.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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