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Fufeitong teams up with Tencent after ending cooperation with Alipay
Online Edition
TENCENT said today it has teamed up with Shanghai Fufeitong Information Technology to offer online payment services for public utility fees in Shanghai through WeChat.
Tencent hopes to make a further step to diversify its service out of online gaming and shopping businesses. The partnership came after Fufeitong halted collaboration with Alibaba Group’s Alipay last month after five years’ contract.
Shanghai residents can now pay for their water, electricity and gas bills through a service account on WeChat.
Fufeitong said it stopped the deal with Alipay to avoid the reoccurring traffic jam and server breakdown of FFT’s bill processing system and EBPP platform, which are caused directly by the high-frequency bill inquiries from AliPay.
FFT now handles payment worth about 10 billion yuan on average each year. The payment service is still available at Alipay since it's working with other payment and transaction firms.
Tencent has been offering a number of services, including payment and online gaming, through its massive popular smartphone chatting tool WeChat, to catch up with rivals such as Alibaba and Baidu in terms online transaction.
The number of monthly active users of WeChat rose 10.7 percent from three months ago to 438.2 million by the end of June and the company is fighting for the attention of China's more than 600 million Internet users and competing with other Internet giants and online service providers.
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