Tencent’s WeChat Pay is one of China’s top two mobile payments platforms. In comments made public this week, the company’s president positions Tencent as a beneficial collaborator in fintech as regulatory scrutiny bruises its biggest competitor. Photo: Reuters
Tencent insists it is a collaborator, not a disrupter, of China’s financial markets
- Tencent President Martin Lau said in a webinar that China’s regulators encourage innovation from “trusted operators” if it is beneficial to society
- The country’s fintech industry was shaken this week when regulators scuttled a public offering from Ant Group, which was set to be the world’s largest IPO
Tencent’s WeChat Pay is one of China’s top two mobile payments platforms. In comments made public this week, the company’s president positions Tencent as a beneficial collaborator in fintech as regulatory scrutiny bruises its biggest competitor. Photo: Reuters
