On the afternoon of September 4th, Taobao and Tmall announced that in order to enhance consumer shopping experience, Taobao plans to add WeChat payment capabilities and adjust platform rules after the collection of opinions is completed. It is reported that this adjustment will cover all Taobao and Tmall merchants.
It is understood that after the ability is officially launched, the payment page of Taobao and Tmall merchants that have been opened will directly display the "WeChat Pay" option, and users can also use WeChat Pay directly on the Taobao and Tmall App.
In response to this, Taobao and Tmall have always adhered to the concept of open cooperation, actively explored interoperability and cooperation with various platforms, continuously improved consumer shopping experience, and made consumer shopping more convenient, enjoyable, and efficient.
As the main payment service provider of Taobao at present, Alipay said that openness, collaboration, innovation and sharing are the basic spirit of the Internet and the general trend of industry development.
Alipay said that it would continue to deepen strategic cooperation with Taotian Group, increase scientific and technological innovation and product innovation, and continue to create greater value for businesses and consumers.
Alipay also said in its response that openness creates a greater future. Alipay will increase its openness and cooperation in Internet technology, AI technology products and the broader ecology, help the vitality and prosperity of the digital economy, and also open a larger business space for Alipay platform.
WeChat Pay responded that the feature adaptation with Taobao platform merchants is currently being launched. Please refer to the Taobao platform announcement for the specific launch time.
As early as November 2021, WeChat Pay and UnionPay Cloud QuickPass launched an interoperability cooperation, allowing WeChat Pay merchants to activate the "Cloud QuickPass Payment to Merchants" function; WeChat Pay supports users to make payments to already activated merchants through cloud flash payment. At the same time, Tencent Animation App also fully supports Cloud QuickPass, becoming the third Tencent based app to open interconnectivity after Tencent Video and WeChat Reading. Since then, WeChat Pay has successively carried out full scenario cooperation with Cloud QuickPass, such as QR code mutual recognition.
From deepening interoperability with UnionPay Cloud QuickPass, to scanning interoperability with payment platforms under the three major telecom operators and JD Pay, to fully supporting digital RMB, WeChat Pay is constantly opening up and exploring functional and service interconnectivity with various banks and institutions.
WeChat Pay always adheres to the concept of open cooperation and actively explores interoperability and cooperation with various fields. WeChat stated that it will continue to explore and provide convenience to users on the basis of ensuring transaction security in the future.
In the opinion of industry insiders interviewed, nowadays, the interconnection between platforms has entered the deep water zone from the basic interconnection in the early years. Under the "essential needs" of ensuring data security and user privacy, each platform must fully consider its own functional characteristics, user groups, data elements, and security measures. It can only be targeted, rather than arbitrary interconnection. In fact, all major Internet platforms in the world are restrained and conservative in any expansion related to user data, especially privacy protection and information security, which is not only related to the requirements of policies and regulations, but also from the perspective of product experience.
WeChat Pay has become a payment service provider for Taobao, which can be seen as a model of multi-party win-win, "Wang Pengbo, a senior analyst in the financial industry at Broadcom, told reporters. Cross cooperation between different platforms and payment tools is not only conducive to improving payment convenience, but also to boosting consumer vitality, in line with the original intention of regulatory requirements for interconnectivity.
In fact, the process of barcode payment interconnection has always been highly concerned by the outside world. In recent years, the central bank has been leading the promotion of barcode payment interconnectivity to break down barriers to barcode payment services and achieve mutual recognition and scanning of barcode identifiers among different apps and merchants. In 2021, great progress will be made in the interconnection of barcode payment - Alipay, WeChat and UnionPay Cloud Flash App will achieve mutual recognition by scanning codes. For example, Alipay has opened online scenes to UnionPay cloud flash payment, covering 85% of Taobao merchants in the first batch; Offline, it has also achieved mutual recognition of payment code scanning with UnionPay Cloud QuickPass in multiple cities.
Wang Pengbo also believes that the cooperation between Taobao and WeChat payment has little impact on Alipay. From the actual effect, it is not the first time that Alipay has introduced other payment methods. From an industry perspective, this indicates that the industry has more opportunities to break the original pattern and provide more possibilities for payment technology innovation