PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

AmEx Tries To Get a Piece of Chinese Consumers' Overseas Spending

Mercator Advisory Group by Mercator Advisory Group
September 29, 2011
in Analysts Coverage
0

High quality illustration set of modern computer monitor, laptop, digital tablet and mobile phone with blank screen. Isolated on white background.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

As the Chinese payments market remains largely closed to the west, foreign payments companies are seeking out ways to work with local partners to get a piece of Chinese consumer spending. An increasingly common practice is to work with local partners to allow consumers make purchases overseas.

AmEx is the latest example of this practice, signing an agreement with Tencent –the parent company of the No. 2 online payment service provider in China.

The agreement will allow users of Tencent’s Tenpay online payment service to make purchases outside China.

Tencent, China’s biggest Internet company by revenue, faces competition from Alibaba Group Holding Ltd.’s Alipay and Baidu Inc.’s Baifubao in processing online payments for consumers in China, the world’s fastest-growing major economy. American Express said this month it is seeking to expand in emerging markets through acquisitions.

The partnership with Tencent will provide a “strong” boost to American Express’s operations in China, Dave Keung, vice president of the New York-based company’s global network division, said in the statement.

Read more about the story here: http://www.businessweek.com/news/201…a-partner.html

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix