Alibaba and Tencent are two very large Chinese companies that you may not have heard of, rivaling American companies like Amazon and Walmart. These two Chinese entities are jumping out in front of today’s mobile payment boom, rapidly expanding in other Asian markets.
China’s digital payment market is the largest in the world and Alibaba’s Alipay and Tencent’s Tenpay are a big reason why. Together they handle roughly 90% of China’s mobile payment transaction value. To learn more about their fast-paced mobile payment lead, click here.