Published: 4:15pm, 1 May, 2017 Updated: 2:55pm, 20 Jul, 2018
Hong Kong-listed Tencent, the owner of popular Chinese messaging app WeChat, has moved to expand its global online payments offering after it led a 1.2bn funding round for Australian international payments software firm Airwallex. This follows rival Alibaba's $$13m bid to take over MoneyGram, a money-transfer provider based in Dallas, Texas. Tencent's Tenpay is currently the second largest digital payment platform in China, behind Alibaba-owned Alipay.