Report cover image

Competitor Profile: Tenpay 2025

Publisher GlobalData
Published Jun 05, 2025
Length 21 Pages
SKU # GBDT20168201

Description

Competitor Profile: Tenpay 2025

Summary

Tenpay is one of the most popular alternative payment solutions in China. It was launched in 2005 by Tencent, which is one of China’s leading internet companies. Tenpay supports online, in-app, and in-store payments both in China and abroad. Tenpay users can make peer-to-peer (P2P) transfers to other users’ Tenpay accounts or bank accounts. Users can also make mortgage and credit card payments and can invest in various financial products. Tencent also owns popular social media platforms including QQ Messenger and WeChat; it has integrated payment services into these apps called QQ Wallet and WeChat Pay, allowing users to conduct payment transactions directly.

Tenpay is concentrated mostly in China, although it has expanded its services to select international markets, focusing on overseas merchants where Chinese tourists are likely to shop. Cross-border transactions are now supported for 69 countries and settled in 29 currencies, including British pound sterling, euros, US dollars, Australian dollars, and Japanese yen. In March 2020, WeChat Pay launched the Fenfu virtual credit card, enabling WeChat Pay users to make purchases and pay in installments.

In September 2021, Tencent integrated its WeChat Pay service with UnionPay’s mobile payment solution UnionPay Mobile QuickPass, allowing WeChat Pay users to scan QuickPass QR codes and make payments. This move further enhances WeChat Pay’s merchant acceptance network. In May 2023, Tencent launched biometric palm-based payments for WeChat Pay users in China. This enables users to make transit payments by waving their hand over metro station scanners.

The report provides information and insights into Tenpay including -
  • Detailed insight into its business
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment solutions
  • Information on its performance highlights
  • The company's important events and milestones
Key Highlights
  • In April 2005, Tenpay launched.
  • In November 2015, WeChat Pay launched in South Africa for local residents, allowing them to make fund transfers, payments at physical stores, and utility bill payments.
  • In June 2019, Tenpay enabled Yandex.Checkout partner merchants to accept online payments through WeChat Pay in Russia.
  • In September 2021, Tencent integrated its WeChat Pay service with UnionPay’s mobile payment solution UnionPay Mobile QuickPass, allowing WeChat Pay users to scan QuickPass QR codes and make payments.
  • In June 2024, WeChat payment codes were fully connected to the UnionPay network, allowing users to scan and pay using the Cloud QuickPass app.
Scope
  • Learn about company's business proposition, and important achievements regarding product launches, partnerships, mergers, and acquisitions.
  • Examine the company’s operational and financial performance and benchmark it against its competitors.
  • Detailed insight into company's current products and services mix.
Reasons to Buy
  • Gain insights into Tenpay's business operations and key events.
  • Gain insights into its product portfolio and revenue model.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Table of Contents

21 Pages
1. Overview
2. Benchmarking
3. Performance Highlights
4. Products and Services
5. Significant Events
6. Ecommerce Market Share in China
7. Partner Banks and Financial Institutions
8. Supporting Merchants
9. Appendix

Search Inside Report

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us