Taote, a cost-efficient e-commerce platform spun off from Alibaba's Taobao, has begun its integration of Tencent's payment method WeChat Pay. According to Chinese tech blog 36kr, many Taote sellers are now signing "diversified payment agreements," with the hopes of adding WeChat Pay as a payment option by the end of the month.
Alibaba has started allowing users to purchase items on some of its apps via WeChat Pay, the payments service run by its rival Tencent, the e-commerce giant told CNBC. Alibaba already has its own payment service Alipay, run by its affiliate Ant Group.
"Removing external link barriers (among different Apps) can reduce operating costs for merchants, and bring convenience to the customers," said Zhang Yong, Alibaba's CEO, during a teleconference on August 3. He said that Alibaba will strengthen cooperation with other platforms, in order to promote the interconnectivity among their applications.
China's Ministry of Industry and Information Technology (MIIT) previously proposed standards requiring all platforms to stop blocking each other's links. Industry moguls such as Alibaba, Tencent, ByteDance, Baidu, Netease, and others were ordered to remove their link-blocking mechanism. Regulators have also urged these companies to increase their collaboration and connectivity to build a better cyberspace for all.
“User experience and transaction security are our guiding priorities as we actively work towards gradually introducing multiple payment methods on our platforms,” a Taobao spokesperson said.
An Alibaba spokesperson added the company will “continue to find common ground with our peers in the platform economy to better serve Chinese consumers.”
At the same time, Tencent has also opened its system to Alibaba. On September 17, WeChat Pay service issued a statement saying that users can access external links in one-to-one chat settings.
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