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Tencent

China targets mobile payments oligopoly with clearing mandate

China’s central bank has ordered online payment groups to operate through a centralized clearing house, a move likely to undercut the dominance of Ant Financial and Tencent by forcing them to share valuable transaction data with competitors.   China is the world leader in mobile payments, with transaction volumes rising…

Tencent opens its credit rating system

Tencent has opened its credit scoring system to limited group users on QQ, WeChat’s older sibling.   This marks a big step forward for Tencent:  not only does this fill in a glaring gap in their product lineup, it also puts them in direct competition with Alibaba’s Sesame Credit.   According to previous screenshots from early…

WeChat Wallet lands in Hong Kong before Apple Pay

Tencent’s WeChat Wallet service is now available to users in Hong Kong — just as Apple is working to release its mobile payment system in the city later this year. Hong Kong users who are part of the pilot programme will be able to link their Hong Kong credit cards to the service and purchase…