Alibaba, the Chinese technology giant, announced on Wednesday that its e-commerce platforms, Taobao and Tmall, will start accepting payments via Tencent’s WeChat app.Historically, Alibaba’s e-commerce sites in China offered limited payment options, predominantly promoting Alipay—operated by Ant Group, an affiliate also founded by Jack Ma. As Alipay competes directly with WeChat Pay, one of China’s largest mobile payment systems boasting over 1.3 billion global users, mostly in China, this change marks a significant shift.”Collaboration and fostering partnerships have always been part of our strategy,” an Alibaba spokesperson told CNBC. “We continually strive to enhance the user experience, making shopping more convenient, enjoyable, and efficient.”The integration of WeChat Pay on Taobao and Tmall is expected to roll out this month.Tencent, a major investor in other e-commerce platforms like JD.com and PDD Holdings, has already integrated WeChat Pay on both JD.com and Pinduoduo.Alibaba indicated that the Taobao and Tmall Group (TTG) has informed merchants about the draft plan to include WeChat Pay as a payment method. However, the timeline for the complete rollout remains uncertain.The material has been provided by InstaForex Company – www.instaforex.com
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