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Tencent Focuses More on Payment Method, Wealth Management and Blockchain When Nearly One Third of Its Income Comes from Fintech

Abstract : In the third quarter financial statement of Tencent, the third season income climbed 21% year on year which was mostly propelled by commercial payment services, fintech, mobile games, social networks and advertisements.

ChainDD
ChainDD

Nov 15

It is shown in the third quarter financial statement of Tencent that the third season income climbed 21% year on year which was mostly propelled by commercial payment services, fintech, mobile games, social networks and advertisements. The income of fintech and enterprise services departments increased to 36% (around 26.758 million yuan).

Apart from traditional payment services, blockchain has been a new engine for Tencent’s fintech research. According to Tencent, fruits have been yielded in following blockchain applications: e-invoice projects—taxation blockchain, financial supply project—small enterprise blockchain, legal evidence project—trust blockchain and bank draft blockchain project.

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