An Alipay logo is seen next to a WeChat Pay logo among other paying method stickers on the doors of a restaurant in central Beijing. Alipay and WeChat Pay services, which enable payments at the convenience of a code scan, have become ubiquitous in daily life in China, with many people now rarely using cash. — Reuters
SINGAPORE/HONG KONG: China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, prompted by the central bank which argues the digital payment giants have used their dominant positions to quash competition, sources with knowledge of the matter said.
The State Council’s anti-trust committee has been gathering information on Alipay, owned by Ant Group which in turn is an affiliate of Alibaba Group Holding Ltd, as well as on Tencent Holdings Ltd’s WeChat Pay for more than a month, they said.
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