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Tenpay Partners With Weixin: Launching QR Code Payment and Shake-It Transfer

On the 7th anniversary of Tenpay(the online payment service by Tencent), the GM of the company announced that the company would start collaboration with Tencent’s IM service Weixin and its B2C arm. This 7-year-old company (founded in April 2005) currently has over 190 million users, partnering with about 400,000 merchants covering games, travels, B2C, insurance, steel, funds and cross-border industries. The services it provides include installment, entrustment, Epos payment, quick pay, and in 2011 its online trading volume reached over RMB 450billion. “Weixin+Tenpay=A new payment concept. We are trying to create an ideal that you can do anything with your phone. In the future Tenpay will develop more payment methods and functions accordingly. ” said Lai.

Pony Ma said on the 2012 China Internet Conference recently that “The opportunity for the mobile internet is O2O.” The QR Scanning seems to be the key entrance for a O2O mode.