Why can't WeChat Pay be used on Douyin?

Douyin cannot use WeChat payment for the following reasons: Policy factors: In violation of central bank regulations, the same payment platform is not allowed to cooperate with multiple online payment institutions. Market competition: WeChat Pay and Douyin Pay are in direct competition, and terminating cooperation can maintain market share. User experience: Douyin hopes to provide a convenient and unified payment experience, and cooperation with WeChat Pay requires users to switch between the two platforms. Revenue sharing: Terminating cooperation can save the revenue sharing paid to WeChat Pay. Data security: Terminating cooperation can better protect user privacy and data security.

Why can’t I pay with WeChat on Douyin?

The cooperative relationship between Douyin and WeChat Pay will be officially terminated in August 2022. The main reasons for this decision are as follows:

1. Policy factors:

According to the "Regulations on Non-bank Payment Institutions" of the People's Bank of China, the same payment The platform is not allowed to cooperate with multiple online payment institutions. WeChat Pay is an online payment institution owned by Tencent, and Douyin’s cooperation with WeChat Pay violates this regulation.

2. Market competition:

WeChat Pay and Douyin Pay are both major domestic mobile payment platforms, and the two parties have direct competition in the market. Douyin's termination of cooperation with WeChat Pay can reduce the threat from competitors and maintain its market share.

3. User experience:

Douyin hopes to provide users with a more convenient and unified payment experience. To cooperate with WeChat Pay, users need to switch between Douyin and WeChat Pay, which may cause inconvenience. Douyin payment can be seamlessly integrated into the Douyin platform to simplify the payment process.

4. Revenue sharing:

When Douyin cooperates with WeChat Pay, it needs to pay a certain proportion of revenue share to WeChat Pay. After terminating the cooperation, Douyin can save this part of the expenditure and increase its own profit margin.

5. Data security:

Douyin cooperates with WeChat Pay and needs to share some user data. After terminating the cooperation, Douyin can better protect user privacy and data security.

In short, the termination of the partnership between Douyin and WeChat Pay is the result of multiple factors, including policy factors, market competition, user experience, revenue sharing and data security.

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