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Finance

ByteDance unveils payment service for China's version of TikTok

Short-video company targets e-commerce for growth, in defiance of leader Alipay

Users of Douyin recently discovered that they have been offered an additional payment option for in-app purchases, called Douyin Pay. (Source photos by AP and Getty Images) 

HONG KONG -- ByteDance, the operator of China's largest short-video platform, has quietly launched a payment service in a move to expand its e-commerce business.

Users of Douyin, ByteDance's Chinese version of TikTok, recently discovered that they have been offered an additional payment option for in-app purchases, called Douyin Pay, alongside the existing Alipay and WeChat Pay. The latter two are offered by, respectively, Ant Group, an affiliate of Alibaba Group Holding, and Tencent Holdings.

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