Alibaba, Tencent expand the rivalry to payment platforms

08/22/2013 | Bloomberg Businessweek

Chinese e-commerce giant Alibaba is fending off large and growing rival Tencent, with the latest battle coming on the field of online payment platforms. Alibaba has already blocked its sellers from using Tencent's WeChat applications, and the companies may soon move the rivalry into the financial services arena as both ramp up new partnerships with investment fund companies.

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Bloomberg Businessweek

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