(Yicai Global) Sept. 17 -- China's Ant Financial Services Group will join hands with Sina Weibo so that users of Alipay's mini-programs can directly access the microblogging platform and vice versa as the competition for eyeballs heats up between the Alibaba affiliate and Tencent Holdings.
Alipay and Sina Weibo will cooperate in terms of scenarios, products, and platforms, Tencent News reported today.
China's two mobile wallet juggernauts, Alipay and Tencent's WeChat Pay, have been vying for dominance in terms of online payments for long by securing partnerships with big merchants. The deal with Weibo shows how rivalry expands to teaming up with other major platforms to grab users' attention while bringing more clients to mini-program developers.
The tie-up with Alipay will provide users with more services and high-quality content, said Tian Liying, vice president of Beijing-based Weibo. It will also allow the pair to monetize online traffic more efficiently, Tian added.
Consumers' time has been fragmented by a large number of mobile apps, said Guan Zhong, general manager of Hangzhou-based Alipay's Open Ecology department. Wrapping many different services in one platform helps create value and improve user experience, he added.
Editor: Emmi Laine