12/14/2023 0 Comments Wechat web download for pcMany millions were without bank accounts in China and bank cards were rare, but the people were quick to adopt mobile phones. Tencent operated in a very different climate when it was forging its early success. Musk has talked repeatedly about adding payments functions to Twitter and even suggested it could "become half of the global financial system". Tencent was among those experimenting and succeeding where thousands of others failed.Ĭrucially Tencent was able to bolt a payments system onto QQ that it ultimately carried on building for WeChat - an innovation observers say is vital for a super-app. "Absolutely no labour protections or data protections or competition regulations," the analyst said. Kai von Carnap from Merics, a German think-tank specialising in China, said the internet sector "had an absolute Wild West free market economy". They use it primarily just for browsing threads." - How did WeChat get so dominant? -īack in the 2000s, before the age of the smartphone, China's internet sector was a place of fevered experimentation with very little regulation. "It is not as critical to daily life, people don't pay using that platform. "Sina Weibo is also one of the largest social networks in China, but it serves a very different function than WeChat," said Kendra Schaefer, head of tech policy research at analysis firm Trivium China. China has its own Twitter equivalent, called Sina Weibo. Twitter, or X, is much smaller and more limited in its functions. It passed the one-billion-account mark in 2018, with most of its users based in mainland China. It is used by almost everyone in China and weaves together messaging, voice and video calling, social media, mobile payment, games, news, online booking and other services. The app was launched by China's big tech behemoth Tencent in 2011 to replace an earlier desktop chat program called QQ.
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