Tencent’s WeChat now enables users to pay their utility bills using the messaging platform. This feature is a joint venture between Tencent and Shanghai Fufeitong Information Technology.
Fufeitong Information Technology Company is responsible for allowing the users to pay their bills online, and now their partnership with Tencent will enable utilities customers in Shanghai to manage their bill payments on the WeChat platform.
Fufeitong had earlier launched a trial version of their application and it was able to gain a lot of attention.
The company boasts10 billion yuan in annual transactions. Fufeitong struck a deal with Tencent after it ended its five year deal with AliPay. Fufeitong is definitely looking for better avenues for its business and Tencent has shown traction in the mobile payments and online gaming businesses.
Tencent has always given a tough competition to AliPay although AliPay enjoys a massive control over the online e-commerce market. However, AliPay’s existence was never threatened until the arrival of Tencent WeChat. Tencent’s earlier online payment system known as Tenpay was never a threat for AliPay, but the emergence of WeChat changed the entire scenario thanks to its ability to connect to customers through social enablement.
WeChat not only allows in-app purchases, but it also has the ability to cater to the requirements of the organizations and companies according to their needs and infrastructure as seen through its collaboration with Shanghai Fufeitong.