Tencent, American Express Partner On Online Payment Services
28 September 2011 - 8:42AM
Dow Jones News
Tencent Holdings Ltd. (0700.HK) and American Express Co. (AXP)
will develop a way for users of Tencent's online-payments service
to buy goods on websites outside China, the companies said
Wednesday.
Users of Tencent's Tenpay payments service will be able to buy
goods on sites in the U.S. and the U.K. that accept American
Express payments, the companies said in a statement. The payments
will be made using an American Express online shopping service
called "globaleshop."
The deal will allow Tenpay "to rapidly expand the scope of our
business and accelerate our move into offering cross-border, online
payment services," the statement cited Tenpay General Manager Luke
Liu as saying.
Tencent is looking for new ways to fuel growth outside its core
businesses in online games and social-networking services in China,
including by taking steps to expand overseas.
-By Owen Fletcher, Dow Jones Newswires; 8610 8400 7702;
owen.fletcher@dowjones.com
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