Tenpay - Riding the QQ Freight Train
Tenpay is the exclusive online payments provider of Tencent, one of the largest and most powerful internet companies in China today. Tencent's service reach includes instant messaging, gaming, blogs, and various wireless value-added services branded under the "QQ" name; also included in the Group’s umbrella of companies is an eBay-like online marketplace called Paipai. Tenpay provides an online payment platform for all of these services. With over over 26 million users, Tenpay easily ranks them among the leading third-party payment companies in China.
· Tenpay is an integral part of Tencent and its main purpose is to facilitate online payments for the Tencent Group.
· As a stand-alone company, Tenpay has yet to prove it has a viable business model, as revenues and profitability are being sacrificed for the success of Tencent and its subsidiaries.
· Tenpay has a fast-growing registered user base currently standing at 26 million, and has direct and exclusive access to serve the payment needs of Tencent’s 300 million active users.
Maverick China Research is a China-based market research firm founded in 2006. We provide business-to-business research and market entry services for clients seeking opportunities in China. We have published over 20 major reports on key industry sectors and companies in China and provide tailored research and consulting services to clients from a broad range of sectors; areas of expertise include electronic payments and e-commerce, telecommunications, agriculture and medical devices. Typical projects include feasibility studies, partner searches, due diligence, and long-term sector tracking.
Published: January 2008
Length: 28 pages
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