Alibaba's E-Commerce Platforms Now Accept WeChat Payments, Aiming for Market Expansion in China

Quick Summary:

Alibaba Group Holding’s (NYSE:BABA) Taobao and Tmall e-commerce platforms have started accepting payment from rival Tencent Holding’s (OTC:TCEHY) WeChat app in September, CNBC cites a familiar source.

The move reflects Alibaba’s attempts to trigger growth in its China e-commerce business, which intense domestic competition and price wars have battered.

Alibaba stock is down 13% in the last 12 months.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChina

Topics: Media Tech Briefs US0186062024 Top Stories Stories That Matter AVEM Benzinga Emerging Markets TCEHY BABA News AIQ

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 13:22:35 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 282 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22375960

View Article Analysis

About Benzinga

Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 26 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

Publisher Details

Frequently Asked Questions