TikTok owner ByteDance launches e-payment service

TikTok owner ByteDance has begun rolling out an electronic payment service connected to Douyin, the Chinese version of the popular short video app, the tech giant said Tuesday. Douyin Pay, which functions similarly to reigning Chinese electronic wallets WeChat Pay and Alipay, aims to “supplement existing major payment options, and to ultimately enhance user experience,” ByteDance told AFP. The move sees the tech giant wade into China’s lucrative market for electronic payment services, which are used by hundreds of millions of consumers for everything from street food to fast fashion and online…

Read More

HEDGE accordingly