WeChat is the most popular social media in China launched by Tencent Holding Limited. (SEHK00700) .With 549 million active users, over 200 countries, 85,000 apps (3Q2015). WeChat supports payment and money transfer, which allows their users to peer-to-peer transfer and electronic bill payment. In the quarter ended Dec.31 2015, the total revenues were USD4, 181 million.
In addition to China, the payment service is offered in parts of Southeast Asia, Europe, North America and Oceania, settling fund to merchants directly in British Pound, Hong Kong Dollar, US Dollar, Japanese Yen, Canadian Dollar, Australian Dollar, Euro, New Zealand Dollar and Korean Won. WeChat Payment also competes with Alipay.
Tencent's many services include social network, web portals, e-commerce, and multiplayer online games. Its offerings include the well-known (in China) instant messenger Tencent QQ and one of the largest web portals in China, QQ.com Mobile chat service WeChat has helped bolster Tencent's continued expansion into smartphone services. On September 8, 2015, Tencent became the largest Internet company in Asia and one of the largest internet companies in the world.
Tencent holds 15% stake of JD.com, which competes with Amazon, Google, EBay, Facebook and Alibaba.
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