WeChat Pay

If Alipay and WeChat experience technical or financial failures, it could have a negative impact on the stability of China's financial system, he said.

The US government is exploring restrictions on Ant Group as well as Tencent over concerns that their digital payment platforms threaten US national security, Bloomberg reported on Wednesday citing people familiar with the matter.

If China's central bank's digital RMB offering is successful, it will likely have an impact on the current Chinese mobile payment landscape. So, will Alipay and WeChat Pay be eliminated?

Reuters today reported that China's antitrust agency is studying whether to launch an anti-monopoly investigation into WeChat Pay and Alipay.

China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, Reuters reported on Friday citing sources with knowledge of the matter. 

WeChat Pay, the financial payment service arm of Chinese tech giant Tencent, is now available in Turkey, according to Xinhuanet.com.

With the popularity of mobile payment in China, payment through Alipay, WeChat's payment code have become commonplace for most people.

WeChat Pay, a mobile payment platform owned by Tencent, has announced that it has got approval for the opening of cross-border mobile payments in Hong Kong and Macau.

Alipay continues to rank first in China's mobile payment market, with its share reaching 54.5% in the third quarter of 2019, China-based data provider iResearch's latest report showed.

Now visitors to China can buy train tickets and pay for hailing taxies by WeChat Pay.