Douyin Pay to challenge the mobile payment leaders
Posted On January 25, 2021
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China’s leading short video app Douyin rolled out its own payment solution to rival the e-wallet duopoly by Alibaba and WeChat, which together account for 95% of market share in the payment sector. Douyin Pay allows users to buy virtual gifts tipping livestreamers as well as to purchase goods from the app’s e-commerce channel. Douyin is now offering coupons to attract users to complete orders in favour of its in-house payment option other than the already installed Alipay and WeChat Pay.