(WSJ) Tencent and Alibaba are considering opening up their services to one another as Beijing tightens tech regulations.
The move could include lifting restrictions, which currently prevent Alibaba customers from making purchases via Tencent payment systems.
Initial moves by Alibaba could include the introduction of Tencent’s WeChat Pay to their e-commerce marketplaces, Taobao, and Tmall.
Tencent could also ease the sharing of Alibaba e-commerce listings on WeChat messaging app or allow some of Alibaba services to access WeChat via mini-programs.
Alibaba’s plan to give access to WeChat Pay and UnionPay App could happen in the coming months.
If the two tech firms will shift stance, further opening of other platforms could happen.
At the beginning of the year, China presented draft regulations on non-bank payment firms. Alipay and WeChat handle about 90% to 95% of China’s mobile payments.
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