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15.12 - 12:45
In a move to break down barriers, a Tencent exec says WeChat Pay will soon be available 'in all places'
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cnbc.comGUANGZHOU, China — Barriers between China's tech rivals like Alibaba and Tencent are coming down as Chinese companies rush to comply with Beijing's crackdown on alleged monopolistic practices.
Mobile pay took off in the last decade to become the dominant form of consumer payment in mainland China, surpassing cash and credit cards. Tencent's WeChat Pay and Alipay — run by Alibaba affiliate Ant Group — are the most popular, covering the majority of the mainland population of 1.4 billion people.
But fierce rivalry between the companies meant that for years, consumers buying products on Alibaba's Taobao e-commerce app could only pay with Alipay. That's about to change.
«As for payment, we also hope in the near future, in all places, users can
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