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Baidu, Tencent help Chinese shopping malls take on Alibaba

Michael Kan | Sept. 1, 2014
Baidu and Tencent are teaming up with a Chinese shopping mall operator in a joint venture that could steal business away from local e-commerce giant Alibaba Group.

In an email, Tencent said the joint venture will help popularize its online payment services on WeChat, making it a destination to complete purchases from Wanda stores.

"Tencent is behind in the mobile payment space," Natkin said. "They are looking at anything they can do to wrest away market share from Alipay (Alibaba's own payment service)."

 

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