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China Antitrust Regulator Mulls Probe of Alibaba’s Alipay and Tencent’s WeChat Pay

By
Shai Oster
· · Source: Reuters

China’s central bank is asking the country’s antitrust agency to launch an investigation into the digital payments platforms of Ant Group, an affiliate of Alibaba, and Tencent, Reuters reported. Ant Group operates Alipay, while Tencent runs the WeChat Pay service. The two services have become so dominant that they’ve nearly replaced cash in China. The central bank believes their dominance is...

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