Tag: ecommerce

Add Foreign Credit Cards and Use Them in WeChat Pay in China

WeChat Pay, the popular mobile payment app in China, has announced that it will now accept foreign credit cards for payment in China. This is a major development for WeChat Pay, as it will make it easier for foreign tourists and businesses to use the app in China.

To use WeChat Pay with a foreign credit card, users will need to add their card to their WeChat Pay account. They can do this by going to the “Wallet” tab in WeChat and clicking on the “Add Credit Card” button. Once they have added their card, they will be able to use it to make payments at any merchant that accepts WeChat Pay.

WeChat Pay’s decision to accept foreign credit cards is a sign of the company’s growing global ambitions. The app is already popular in China, but it is also looking to expand its reach to other countries. Accepting foreign credit cards will make it easier for WeChat Pay to attract users outside of China.

Tencent Sells Giant Stake in JD.com – Dropping its ECommerce Share

Tencent is a giant in the world of Chinese technology and beyond. Today they have announced that they will be selling most of its stake in JD.com.

Tencent will reduce is staking from 17% to 2.3%.

The proceeds will help Tencent provide shareholders with a $16.4 billion dividend.

After long being JD’s largest stakeholder, Tencent will give the title to Walmart.

This seems to be a Tencent strategy that has paid off in the long term. Instead of Tencent looking to acquire many companies in adjacent industries – they have decided to acquire minority stakes in a huge number of technology companies globally.

Why?

Its far easy to own more when you own a minority. If Tencent were to acquire more companies – they would have issues with Government and regulator approval.

Warren Buffett: Amazon’s Jeff Bezos Has Changed The World

Warren Buffett’s views on Jeff Bezos and how he has changed the world. 

Why this matters: Warren Buffett for a long time has been watching Jeff Bezos and commenting on how amazing the run of Amazon has been. It would have been very interesting if Warren Buffett understood the technology industry at the beginning of the internet as it would have provided a lot of great investment opportunities.

What is the fundamental difference between Amazon and Alibaba? They seem similar, but with different business models

Here is the key difference.

Alibaba is a marketplace. They do not own the inventory of the merchandise sold. They put buyers and sellers together. Buyer and seller agree on terms online via their platform or offline.

Amazon’s main business is they own the inventory, and sell directly to the customer.

Both models have their Pros and Cons. Amazon has also turned into a very strong third party seller platform in recently years, but they still like to control a lot of the fulfilment.