In 2020, WeChat’s social commerce venture raked in $240 billion.Īlibaba’s UC browser was deleted from app stores by Chinese regulators as part of Beijing’s crackdown on tech companies. WeChat, with over one billion users, moved into the eCommerce space in 2017, collaborating with Walmart and Starbucks. Both technology giants have evolved over the years, and today offer pretty much the same services. Together, Alipay and WeChat Pay have 90 percent of China’s digital payments market.Īlibaba started as an eCommerce platform, which is still its main business, whereas Tencent launched its primary business as a social media and gaming platform. Ant Group, an affiliate of Alibaba, competes with WeChat Pay with its own app, Alipay. Merchants on WeChat will be able to take advantage of WeChat Pay, which was always blocked on Alibaba’s platform. Alibaba's decision to make Taobao Deals available on WeChat is a move to satisfy some of the mandates made by regulators.Īlibaba has already reached out to some retailers and invited them to participate, sources told Bloomberg. The move was prompted by China’s antitrust regulators, who are in the midst of an aggressive campaign to reel in web-based monopolies, the sources said.Īs longtime rivals, Alibaba and Tencent typically block each other’s services from their platforms. Alibaba Group - the biggest eCommerce platform in China - will host its bargains app, Taobao Deals, on Tencent’s WeChat platform, Bloomberg reported, citing sources.
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