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21-May-2014 17:45 by 2 Comments

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An online payment system similar to Pay Pal, it supports B2B, B2C, and C2C payments. It is the most popular social mobile application in China and some overseas Chinese communities, for instance, Malaysia. Many of Tencent's software and services are remarkably similar to those of competitors.The founder and chairman, Huateng "Pony Ma" Ma, famously said, "[To] copy is not evil." A former CEO and President of SINA.com, Wang Zhidong, said, "Pony Ma is a notorious king of copying." Jack Ma of Alibaba Group stated, "the problem in Tencent is no innovation; all things are copies." In 2015, security testing firms AV-Comparatives, AV-TEST and Virus Bulletin jointly decided to remove Tencent from their software whitelists.

Tencent had already held 22.34% of the equity interest out of a previous investment in 2008.In China, users who have provided bank account information may use the app to pay bills, order goods and services, transfer money to other users, and pay in stores if the stores have Wechat payment option.Vetted third parties, known as "official accounts", offer these services by developing lightweight "apps within the app".There are three types of official accounts: service account, subscription account and enterprise account.Once users as individuals or organizations set up a type of account, they cannot change it to another type.Tencent used to offer a number of online, multiplayer games through its game portal QQ Games.

These massively multiplayer online games include Call of Duty Online, a Massively multiplayer online game that consists of previous Call of Duty titles with added content; Dungeon Fighter Online, a side-scrolling online fighting game; QQ Fantasy, a 2D online game that incorporates elements from Chinese mythology; Xunxian, a 3D, online RPG; QQ Three Kingdoms, an online casual role playing game set during the historical three kingdoms period; QQ Huaxia, an online RPG; QQ Dancer, an online musical dancing game that offers QQ IM interactivity; QQ Nanaimo, an online game set on a desert island where players maintain houses and pets; QQ Speed, a casual online racing game; QQ R2Beat, an online in-line skating game; QQ Tang, an "advanced casual game" with gameplay derived from Chinese literature; QQ PET, a QQ IM-based desktop virtual pet game and three online first-person shooters; War of Zombie, Cross Fire and AVA.

Tencent previously had a 15.68% stake in the company and raised the stake through a USD 46.98 million investment.

On March 10, 2014, Tencent bought a 15 percent stake in Chinese e-commerce website Inc.

For work purposes, companies and business communication, a special version of We Chat called Enterprise We Chat (or Qiye Weixin) was launched in April 2016.

The app is meant to help employees separate work from private life.

This was soon followed QQ Yin Su (QQ音速) in 2006, QQ San Guo(QQ三国) in 2007. Tencent offers a diverse mix of services and counts both consumers and businesses as customers.

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