Chinese internet company Tencent has joined forces with Taiwan-based E.SUN Bank to provide the Tenpay online payment service, which enables mainland internet users to buy products from Taiwan’s small and medium-sized enterprises.

Chinese consumers are able to use their mobile phones to scan the "quick response" codes of Taiwan-made products such as food and cosmetics, and pay with Tenpay’s service to have the products shipped to mainland addresses.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

E.SUN Bank president Joseph Huang said that around 200 Taiwan-based merchants currently support the service and more are expected to join.

The alliance is one in a series of moves by Tencent to compete with Chinese e-commerce rivals like the Alibaba Group, in order to gain a stronger foothold in Chinese payments:

"We are working on projects in Hong Kong and Taiwan and hope to sort out ways to provide online payment services outside the mainland and then reach out to more merchants," said Jim Lai, Tenpay’s general manager.

In 2011 Tenpay joined forces with American Express for a similar service for its users to buy goods on websites outside the Chinese mainland.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last year, China’s online shoppers spent an average of 1,514 yuan per person on overseas shopping websites, according to Alipay, China’s biggest online payment company.

The total amount of overseas shopping transactions through Alipay increased by 117 percent in 2012, compared with 64.7 percent growth in the domestic market over the same period.

Related Articles

Alibaba conjures up big numbers in China

CPS launches new online payment service

e-commerce: Avangate plans to grow in Asia-Pacific