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Tencent planning credit scoring system to compete with Alibaba

Published 08/07/2017, 09:37 AM
© Reuters.  Tencent planning credit scoring system to compete with Alibaba
TCEHY
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BABA
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  • Tencent (OTCPK:TCEHY, OTCPK:TCTZD) is reportedly developing a credit scoring system to better compete with Alibaba (NYSE:BABA) in China’s mobile payment market.
  • Financial Times reports Tencent has a small selection of subscribers testing the scoring service, which would take on Alibaba’s payments affiliate’s Sesame Credit offering.
  • Alibaba’s mobile payment service has approximately 520M users.
  • China’s mobile payment market hit $5.5T in 2016, according to iResearch.
  • In Q1, Tencent had 39.5% of the mobile payment market compared to Alibaba with 53.7%.
  • Previously: Payment wars - Baidu partners with Paypal (July 27)
  • Now read: Sohu To List Sogou, AirMedia Lowers Buyout Offer


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