Chinese mobile payment service provider , Tencent , is planning to expand its WeChat payment service internationally , to the 20 countries where it already operates . “This looks like a real blow to Tencent’s competitor Alibaba, which has been trying to expand its payment services to the Western world for a while without much success (the reasons behind could be various: PayPal already dominating the market, legal barriers no relationship with the likes of Visa, MasterCard and so on) and also as a surprise, giving CUP struggles,” said Zennon Kapron (photo right), managing director, Kapronasia. The move reportedly puts Tencent ahead of its key competitor , Alibaba , and its mobile offering . It is reported to have attempted , and largely failed , in its attempts to expand its mobile payment service beyond China , whereas the initial success of WeChat indicates that " it has a real shot at becoming a must - have for Americans and Europeans too " .
Chinese mobile payment service provider , Tencent , is planning to expand its WeChat payment service internationally , to the 20 countries where it already operates . The move reportedly puts Tencent ahead of its key competitor , Alibaba , and its mobile offering . It is reported to have attempted , and largely failed , in its attempts to expand its mobile payment service beyond China , whereas the initial success of WeChat indicates that " it has a real shot at becoming a must - have for Americans and Europeans too " .