WeChat Pay: Similar to Alipay, WeChat Pay works alike Alipay.
#BYTEDANCE CHINESE DOUYIN PAY WECHAT PAY CODE#
In 2020, Alipay also provides user’s health code based their recent travel history to help to contain the COVID-19. Apart from scanning QR code for transfer payment, Alipay also have many built-in programs that offer services like paying utilities, buying ticket, ordering food, investment, to name a few. To offer a better understand of Chinese digital landscape, several essential Chinese digital platforms will be introduced.Īlipay: As part of the Alibaba Group matrix, Alipay has been providing digital payment solutions to hundreds of millions of people for more than 10 years. According to China Academy of Information and Communications Technology, China’s digital economy has grown from 2.6 trillion in 2005 to 35.8 trillion in 2019, and the digital economy in 2019 accounted 36.2% of the GDP.Īlipay, TikTok, Tmall, and WeChat might sound familiar to many Westerners, but the Chinese digital landscape has so much more to offer. With the digitalization development and growing users, China’s digital economy also has enjoyed an unprecedented growth. In March 2020, Chinese netizens exceeded 903 million and Chinese mobile netizens reached 896 million (source CNNIC). What works in the West might not work in China or might not be popular at all in mainland China.įrom the WeChat integrated mini-programs for solving the complexity of downloading and registering APPs, to well distributed digital payment solutions for adding more convenience to people’s everyday life, China’s digitalization evolvement has been astonishing and will continue to lead the digitalization development globally.Īpart from the digitalization development, China’s digital population is also growing rapidly. Though Douyin Pay is still new and even though the Alibaba and WeChat Pay do hold a great place in the Chinese society we cannot wait to see what the future is for Douyin Pay.Chinese digital landscape is vastly different from the West. Douyin has launched their money filled red packets on a very great timing as the Chinese New Year’s Holiday is right upon their heads and people gift each other red packets during this season, and during Covid times when they cannot go out what better way to send love online through the money filled red packets from Douyin. Red Packets or Red Envelopes are gifts which are given during the holiday season or on some special occasion in China. Users can receive cash filled red packets from Douyin campaign and transfer that money into their accounts. It is a great way for brand marketing.Īlso read: TikTok in-app payment may come soon as ByteDance has applied for a new e-payment trademark in ChinaEven though AliPay and WeChat Pay are the most commonly used methods to transfer online payment in China and a lot of brands when rivaling have failed, Douyin future kind of looks positive, they have launched Cash filled Red Packets on their app. The user, when taps on it is immediately linked to the source where they can buy that certain product. For example, if a creator makes a video wearing a certain shirt, the brand can pay Byte Dance to link that video to the website where the product is sold.
Unlike TikTok from around the world, Douyin offers its users a feature where they can directly get linked to the source offering a certain product by clicking on the short video.
#BYTEDANCE CHINESE DOUYIN PAY WECHAT PAY LICENSE#
So how did Douyin acquired the license? Well before the license was stopped being given out, a license had already been issued to a company called Wuhan Hezhong Yibao Technology and last year TikTok China bought that company in September and hence acquired the license as well.Īccording to Douyin, this in app payment option is very reliable and will enhance user experience as well as supplement the existing major payment option. TikTok in China, Douyin introduced an in app online payment option called “Douyin Pay” which is present in the short video app alongside AliPay and WeChat Pay.Ĭompanies need a license to run online payments within their app, but in 2016 Beijing stopped issuing the license as it was a risk in the rapidly growing financial segment. The two most commonly used applications for online payments in China are AliPay by Alibaba and WeChat Pay by Tencent which cover over 90 percent of the electronic market alone.
TikTok in China, which is commonly known as Douyin introduced its own online payment method.
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