The payment interconnection between Alibaba and Tencent, the two giants, is once again making significant progress. On September 4th, it was reported that Taobao App will soon fully support WeChat Pay. In response to this, WeChat Pay has stated that the feature adaptation with Taobao platform merchants is currently being launched. Please refer to the Taobao platform announcement for the specific launch time.
In the industry's view, if Taobao fully integrates with WeChat Pay, it also means that the previously closed system between giants is gradually moving towards openness, which can achieve a win-win situation for all parties.
For a long time, the payment ecology of domestic Internet giants' platforms has been disconnected and shielded from each other. Until July 2021, China UnionPay Cloud Flash App and the platform will begin to plan connectivity, and take the lead in opening interoperability cooperation with Alipay, and actively explore online payment, offline barcode interoperability and other fields.
In 2022, when the two payment platforms of WeChat payment and Alipay have not been substantially interconnected, UnionPay Cloud Flash App has quietly basically completed the coverage of multiple mainstream e-commerce platforms.
WeChat Pay has always adhered to the concept of open cooperation and actively explored interoperability and cooperation with various fields. Previously, WeChat Pay has successively carried out payment interoperability cooperation with platforms including UnionPay Cloud QuickPass, JD Pay, payment platforms under the three major operators, and digital RMB. In the future, it will continue to explore and provide convenience for users on the basis of ensuring transaction security.
As the main payment service provider of Taobao at present, Alipay said that openness, collaboration, innovation and sharing are the basic spirit of the Internet and the general trend of industry development. Alipay will continue to deepen strategic cooperation with Taotian Group, increase scientific and technological innovation and product innovation, and continue to create greater value for businesses and consumers.