Beijing-based ByteDance launched its own third-party payment service for Douyin, as it presses to expand into the eCommerce business in China.
In a statement, Douyin said, “The set-up of Douyin Pay is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin.”
Tuesday, January 19, local Chinese media reported that Douyin Pay had been launched. Users of Douyin, which accumulated 600 million daily active users, previously could use Ant Group’s Alipay and Tencent Holdings’ WeChat Pay, the country’s two ubiquitous third-party mobile payment channels, to buy virtual gifts for live streamers or items from shops on the platform.
Douyin is the main revenue generator for ByteDance. It provides a glimpse of what TikTok could eventually become, as Douyin started selling merchandise in 2017 and now operates a growing eCommerce operation where hundreds of millions of users shop on a daily basis.