A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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April 5, 2024
On the wires
MoneyGram Announces New Partnership with Tencent Financial Technology to Enable Digital Remittances to Weixin Pay Wallet Users across China
PR Newswire
January 25, 2024
On the web
How Weixin’s Palm Scan Payments Is Like Waving at a Friend [Video]
Tencent
January 15, 2024
On the web
You Can Now Pay With Your Palm in China -- From the Metro to Your Coffee [Video]
CNN
November 16, 2023
On the wires
Visa and Tencent Financial Technology Extend Global Partnership to Facilitate Remittances to Digital Wallets Utilising Visa Direct
PR Newswire
July 13, 2023
On the web
Flywire Partners with Tencent Financial Technology to Streamline Global Tuition Payments from China
EIN News
June 12, 2023
On the wires
Tencent Financial Technology Shares its "1+1+1 " Model at Money 20/20 Europe: Building an Open Global Payment Network, Connecting Cross-Border Life Services Digitally
PR Newswire
December 5, 2022
On the web
Tencent Financial Technology Introduces Tenpay Global Brand, Launching New Inbound Remittance Capabilities to Facilitate Money Transfers to China
TechCrunch
“Tencent Financial Technology, Tencent’s fintech arm, is pleased to introduce Tenpay Global, a new international brand for its cross-border payment business. It is also unveiling new inbound remittance capabilities to Weixin to facilitate easy money transfers to China. The Tenpay Global brand consolidates a suite of business and consumer cross-border payment products and solutions to serve different customer segments, including e-commerce platforms, global corporate and individual customers, as well as customers seeking personal remittance services. Tenpay Global Remittance Services is an innovative remittance solution that enables global fintech institutions to connect with Weixin’s open ecosystem by leveraging simple APIs and powerful global fund process capabilities.”
April 14, 2022
On the web
Tencent Commences Test Programme for Digital Yuan Wallet
Finextra Research
“Tencent has rolled out a wallet that enables users to make transactions using China’s central bank backed digital currency. Undergoing A/B testing, the Tencent e-CNY Wallet, enables users to transact using the digital currency through QR codes on WeChat. Users will be able to transfer funds, collect payments, and access credit card functions through the programe.To qualify, consumers need to to activate the wallet function of WeBank, Tencent’s digital banking arm, in the central bank’s e-CNY app, which arrived in Android and Apple app stores in January.”
March 21, 2022
On the web
China Weighs Tencent Payments Overhaul, New License Requirement
TechNode
“Chinese authorities are considering requiring Tencent Holdings Ltd. to include WeChat Pay in a newly created financial holding company, part of an overhaul that may necessitate a new license for the ubiquitous mobile payments service, according to people familiar with the matter.”
July 16, 2020
On the web
Tencent Launches New Online Shopping Feature in WeChat App, in a Challenge to Rivals Alibaba and JD
CNBC
“Tencent has launched tools to help merchants build virtual shops on its wildly popular WeChat messaging service in China, pitting itself against the country’s major online shopping giants Alibaba and JD.com. Businesses and merchants will be allowed to sign up for a test of the e-commerce product, known as WeChat Minishop. WeChat is China’s most popular messaging app with over a billion users. It is a key part of life in the world’s second-largest economy. WeChat is often dubbed a “super-app” because consumers can purchase flights and use payments, all within the app.”
September 27, 2018
On the web
Tencent & Alibaba chase remittances in battle for Southeast Asia
Reuters
“Both companies recently launched money-transfer services that allow Hong Kong-based workers from Indonesia and the Philippines to send money home cheaply and easily. The moves are a first step in going after a global remittance business that moves more than $600 billion around the world annually.”
August 22, 2018
On the web
Tencent’s Highest-Growth Business Deserves Your Attention
Motley Fool
“Tencent has two main payment platforms, Tenpay and WeChat Pay (also known as WePay). Tenpay is a PayPal-like feature that was developed for Tencent’s older messaging app, QQ. The platform was eventually expanded to its newer mobile messaging platform, WeChat, as WeChat Pay (also known as WePay and Weixin Pay). The two platforms are now often referred to as a single payments platform.”
July 19, 2018
Top Post
Chinese Tech Giant Tencent Plans To Expand Its US Payments Footprint — Despite Ongoing Trade War
CNBC
“Tencent has focused on expanding the payments service abroad, but it has stopped short of trying to create a local version of WeChat for other countries. Instead, the company has been focused on signing up merchants in many countries to accept WeChat Pay so Chinese tourists can use the payments platform abroad. And Tencent is gearing up to announce that many more stores in the U.S. will accept WeChat Pay later this year.”
March 1, 2018
On the web
Baidu, Alibaba, Tencent to disrupt Facebook, Amazon, Netflix, Google in Asia
Financial Review
“China’s tech giants are investing heavily across the region, upending a long-held assumption their US rivals – Facebook and Amazon – would dominate the global digital economy. Armed with strong backing from the Chinese government and a huge, digital-savvy market at home, companies like Alibaba and Tencent are catching up with – and in some cases overtaking – their US rivals, according to Jonathan Woetzel, director of the McKinsey Global Institute.”
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