An Alipay logo is seen next to the Shanghai office of Ant Group, November 3, 2020. Photo: AFP
An Alipay logo is seen next to the Shanghai office of Ant Group, November 3, 2020. Photo: AFP
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ByteDance, Meituan and Pinduoduo: China’s second tier tech giants poised to challenge payments duopoly

  • Beijing’s antitrust campaign may provide an opening for other Big Tech firms who have eyed payments but were wary of going up against the two entrenched players
  • The payments sector is a clear duopoly with Ant Group’s Alipay and Tencent’s WeChat Pay accounting for more than 90 per cent of the market

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An Alipay logo is seen next to the Shanghai office of Ant Group, November 3, 2020. Photo: AFP
An Alipay logo is seen next to the Shanghai office of Ant Group, November 3, 2020. Photo: AFP
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