Tencent: Innovating in China's Mobile Payment Industry
(6 pages of text)
By 2014, Tencent Holdings Limited, headquartered in Shenzhen, China, had become one of the most innovative companies in Asia. It had created several leading Internet platforms to form China’s largest Internet community. WeChat (or Weixin, as known to Chinese users) was one of the company’s most popular mobile platforms, having grown to 200 million active users in the first two years after its launch in 2013. Shortly thereafter, WeChat rolled out a payment platform that sought to capitalize on its customer base across China. However, its president was concerned about how to expand WeChat Payment in the country’s emerging mobile payment industry. Where was the next major opportunity? Tencent had to be highly creative in navigating the world’s largest economy.
- To introduce the emerging mobile payment market in China.
- To analyze the similarities and differences between China’s homegrown e-commerce companies and their Western counterparts.
- To explore the challenges and opportunities for major players in the mobile payment market.
Information, Media & Telecommunications
China, Large, 2014
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