Alternative Payment Solution: Tenpay

2018-12-17
Price :
Published : Dec-2018
No. of Pages : 19

Alternative Payment Solution: Tenpay

Summary

Tenpay is the second-largest online payment platform in China, behind only Alipay. It was launched by Tencent, China’s leading internet company, in 2005. Tenpay supports online, in-app, and in-store payments in China and abroad. Tenpay users can make fund transfers to other users’ Tenpay accounts or their bank accounts. Users can also make mortgage and credit card payments, and can even invest in various financial products. Tenpay’s parent Tencent also owns popular social media platforms including QQ Messenger and WeChat, and has integrated payment services into these apps called QQ Wallet and WeChat Pay, allowing users to conduct payment transactions directly.

Tenpay accounts for 38.9% of the total third-party mobile payments market in China. It is mainly concentrated in China, although it has expanded its services to select international markets, focusing on overseas merchants where Chinese tourists are likely to shop. It partnered with German payments company Wirecard in July 2017 to launch its mobile payments service WeChat Pay across Europe, allowing Chinese tourists to make payments at European merchants. Local residents in countries like South Africa, Hong Kong, and Malaysia can also make in-store payments using WeChat Pay.

Tenpay is supported by 80 banks and financial institutions. Cross-border transactions are now supported in 40 countries and settled in 13 currencies, including pounds sterling, euros, US dollars, Australian dollars, and Japanese yen.

The report provides information and insights into alternative payment solution Tenpay including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company’s important events and milestones.

Scope

– In April 2005, Tenpay was launched by Tencent.
– In February 2016, WeChat Pay launched in Hong Kong for local residents for in-store payments.
– In August 2018, WeChat Pay launched in Malaysia for local residents, allowing them to make fund transfers and payments at physical stores.
– In November 2018, it partnered with Yandex.Checkout, to increase its acceptance network in Russia.

Reasons to buy

– Gain insights into Tenpay’s business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Filed in: Banking & Finance, Insurance
Publisher : GlobalData
More Reports
Title Price Buy Now

Liberty Mutual: Enterprise Tech Ecosystem Series

Liberty Mutual: Enterprise Tech Ecosystem Series Summary Liberty Mutual is a property and casualty insurance company. Through its subsidiaries and affiliated companies, the company offers a range of personal insurance and business insurance solutions to individuals, families, and businesses. It offers insurance products for homeowners, commercial multi-peril, property, general liability, commercial automobile, surety, worker's compensation, and specialty lines. It also offers employee benefits insurance, health insurance, marine insurance, construction insurance, energy insurance, trade credit insurance, aviation insurance, and crisis management insurance. It markets and distributes products through licensed employee sales representatives, captive agents, brokers, independent agents, lic......
$1295

Royal Bank of Scotland: Enterprise Tech Ecosystem Series

Royal Bank of Scotland: Enterprise Tech Ecosystem Series Summary The Royal Bank of Scotland Group (RBS) is a provider of personal and commercial banking and other financial solutions through two major subsidiaries: RBS and NatWest. Its Personal Banking segment offers accounts, cards, loans and mortgages, insurance, investment, and private banking solutions. Business Banking includes cards and payments, business loans and finances, business support, and international finance. Some of its other brands include Ulster Bank, Coutts, Adam & Company, Drummonds, Isle of Man Bank, Holt's, Lombard, and RBS International. It also provides risk management, trading, and debt financing solutions through the NatWest Markets brand. The group has operations in Europe, Asia, the Middle East, and North Ame......
$1295

PESTLE Insights: Macroeconomic Outlook Report – China

PESTLE Insights: Macroeconomic Outlook Report - China Summary Eastern China accounts for most of the provincial GDP. Beijing, Shanghai, Jiangsu and Guangdong are the major provinces of Eastern China. Better sea connectivity has boosted manufacturing in these provinces. FDI inward flow to China remained strong in 2018, with y-o-y growth of 3.0%. Services contributed 52.8% to the gross value added (GVA) in 2019, followed by manufacturing, mining and utilities with 32.43%, as per the estimations of GlobalData. The two sectors grew by 10.5% and 5.7%, respectively in 2019. Scope - China was ranked 26th out of 160 countries according to the World Bank's logistics performance index (LPI) in 2018. Its infrastructure spending remains one of the major drivers of its economic growth. - The SSE ......
$500

Retail Banking in UAE: Coronavirus (COVID-19) Sector Impact

Retail Banking in UAE: Coronavirus (COVID-19) Sector Impact Summary The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020. Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the world losing 20-50% of their value for the year to date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary enviro......
$1000

Morgan Stanley: Enterprise Tech Ecosystem Series

Morgan Stanley: Enterprise Tech Ecosystem Series Summary Morgan Stanley is a financial holding company that offers institutional securities, wealth management, and investment management services through its subsidiaries. Its institutional securities and wealth management solutions include lending, investment banking, sales and trading, brokerage and investment advisory, wealth and financial planning, banking and retirement planning, and insurance. Investment management comprises private market investment solutions covering asset classes such as private credit, private equity, infrastructure, and private real estate markets. It serves high-net-worth (HNW) and ultra-high-net-worth individuals, SMEs, corporations, financial institutions, and government organizations through branches and onl......
$1295

Zego: Tech Innovator Profile

Zego: Tech Innovator Profile Summary Zego, a trading name of Extracover Limited, is a London-based insurtech startup that provides pay-as-you-go insurance services to gig economy workers and liability insurance for professionals and businesses This report provides insight into Zego, including an overview of the company and its product offering, information on its key partnerships, and biographies of its top management. Scope - Zego was the first insurtech company in the UK to obtain a license to sell its own insurance products in the country. - Zego is leveraging key disruptive technologies such as telematics and connected devices to enhance its operational and service capabilities. - Internet of Things and mobile are the key themes under focus for the company. Reasons to Buy - Gain......
$350

Competitor Profile: Fiserv

Competitor Profile: Fiserv Summary Fiserv is a leading global provider of payments and financial services. It provides a wide range of services, including electronic payment processing for electronic bill payments, account-to-account transfers, and debit and credit card processing and services; internet and mobile banking systems; card and print personalization services; loan origination and servicing products; as well as fraud and risk management services. In January 2019, Fiserv announced the acquisition of leading global merchant acquirer and processor First Data for $22bn. The transaction was completed in July 2019, helping Fiserv position itself as a leading player in merchant acquiring and payment offerings globally. The combined company is operating as Fiserv. With the acquisition......
$350

Retail Savings & Investments in Switzerland: Coronavirus (COVID-19) Sector Impact

Retail Savings & Investments in Switzerland: Coronavirus (COVID-19) Sector Impact Summary The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020. Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the world losing 20-50% of their value for the year to date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset ......
$1495

Retail Banking in Sweden: Coronavirus (COVID-19) Sector Impact

Retail Banking in Sweden: Coronavirus (COVID-19) Sector Impact Summary The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020. Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the world losing 20-50% of their value for the year to date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary env......
$1000

Revolut: Tech Innovator Profile

Revolut: Tech Innovator Profile Summary Revolut operates an online platform offering alternative banking solutions such as currency exchange, P2P payments, cryptocurrency trades, and bank transfers This report provides insight into Revolut, including an overview of the company and its product offering, information on its key partnerships, and biographies of its top management. Scope - Revolut is leveraging key disruptive technologies to offer innovative digital banking solutions, analyze and secure customer spending, and trade cryptocurrencies. Artificial intelligence and mobile applications are the key themes under focus for the company. - Revolut won the Innovation of the Year award at the British Bank Awards 2020, run by Smart Money People. Reasons to Buy - Gain insights into Rev......
$350
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy