The Owner of TikTok Launches Its Electronic Payment Service

ByteDance introduced Douyin Pay as a third-party payment service for the Chinese version of TikTok.

Entrepreneur’s New Year’s Guide

Let the business resources in our guide inspire you and help you achieve your goals in 2021.

January 19, 2021 1 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Chinese company ByteDance launched a third-party payment service for the Chinese version of its short video app TikTok on Tuesday . The mobile payments platform, under the name Douyin Pay , is part of the company’s strategy to strengthen its fintech and e-commerce presence in China.

“The launch of Douyin Pay is to complement the main existing payment options and improve the user experience in Douyin,” the firm said in a statement .

Douyin Pay currently has 600 million assets per day, according to Reuters reports, being the third most popular mobile payment service in the Asian giant after Ant Group’s Alipay and Tencent Holdings’ WeChat Pay.

ByteDance, whose founder and CEO is Zhang Yiming, has clashed with Donald Trump in the United States over his alleged ties to the Chinese Communist Party. The company, which at the time faced a possible TikTok ban in the American Union, has been in talks with entities such as Oracle to sell its US assets.

No Comments Yet

Leave a Reply

Your email address will not be published.


The Abundance Pub (TAP) is a media source dedicated to all things positive in the world. Focusing on Health, Wealth and Happiness. The Abundance Pub serves as repository of positive news articles, blogs, Podcasts, Masterclasses and tips to help people live their best life!


Message From Founder