Rumor: Tenpay to Release WeChat Account Balance VAS

China Business News, 11/29/13

A source at Shenzhen-based internet company Tencent's (0700.HK) Tenpay online payment service has confirmed that Tencent will launch a "WeChat Finance" platform in mid-December on its WeChat (Weixin) mobile messaging platform. According to the source, WeChat plans to release an account balance fund investment service similar to that of Alipay's Yu'e Bao through a cooperation with ChinaAMC Capital Management Limited, E Fund Management, GF Fund Management, and China Universal Asset Management. Operation of the service will be overseen by Tencent's Tenpay online payment service.

Interest for finance products offered via WeChat will reportedly be higher than those currently offered by Yu'e Bao.

Keywords: third-party payment wireless Tenpay Tencent ChinaAMC E Fund VAS 0700.HK online payment WeChat GF Fund e-payment CUAM financial services

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily