Users will need a Chinese bank account to use Douyin Pay. “Douyin Pay's setup is to integrate existing major payment options and ultimately improve the user experience on Douyin,” ByteDance said in a statement.ĭouyin's payment system is operated by Wuhan Hezhong Yibao Technology, a company acquired by ByteDance about two years ago. Creators usually sell articles or products related to their content. With its payment service, ByteDance's Douyin thus joins the mobile payment giants Alipay and WeChat Pay, the two dominant mobile payment apps in China.īyteDance has launched a new payment service within Douyin, the Chinese version of the TikTok short video sharing app.ĭouyin users will therefore be able to choose Douyin Pay to make purchases within the app for short videos. The short video app recently added “Douyin Pay” to its list of existing payment options, which include Ant Group's Alipay and Tencent's WeChat Pay.
assets for national security reasons, in China the company tries to expand into the digital payments sector.īyteDance has launched a new payment service within Douyin, TikTok's Chinese sister app. While in the United States ByteDance has to contend with a ban by the Trump administration that forces the company to sell TikTok's U.S. The company also expands into the fintech and e-commerce sector in ChinaīyteDance, the Beijing-based company that owns TikTok, is looking to e-commerce and fintech with the launch of Douyin Pay. ByteDance, the Chinese company that owns TikTok, has launched its own payment service for Douyin, the Chinese version of the short video app.
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