Major Chinese e-commerce players now operate in a closed environment, allowing their preferred digital payment providers and often blocking rival services.
According to Dizon, Resso looks to reach young music enthusiasts who are looking for a fresh streaming experience, and encourage these youth to express and connect with like-minded individuals.China's plan for a centralized digital currency could open up the country's "walled-garden" online retail payments ecosystem, but analysts believe it may not immediately change the way shoppers transact with Alibaba Group Holding Ltd.-affiliated Alipay and Tencent Holdings Ltd.'s WeChat Pay, which powers payments on the WeChat super-app. Speaking to MARKETING-INTERACTIVE then, Tricia Dizon, country manager Resso Indonesia said the company has an aggressive plan for the Indonesia market. The app targets the Gen Z and Millennials in Indonesia, and is aimed at encouraging everyday music listeners to express themselves on a global stage. The idea then eventually turned into a fully-fledged virtual Broadway show with the help Broadway veterans, which was streamed earlier this month.Ĭloser to home in Southeast Asia, ByteDance launched its own music streaming app called Resso in Indonesia last year. It led to the creation of an account which made a video calling for community submissions to help bring the musical to life. Building on that content, another user uploaded a new version of the ballad, which gained popularity online. The musical was spurred from user-generated content, when a user uploaded a love ballad dedicated to “Remy,” the main character in Disney/Pixar’s Ratatouille. While Douyin has ventured into the mobile payment service, its counterpart in US TikTok has gotten creative with the use of its platform and recently launched its first TikTok musical, Ratatouille. MARKETING-INTERACTIVE has reached out to ByteDance for additional information. The entrance of Douyin into the mobile wallet and payment scene could be a significant one, given that the platforms currently has over 600 million daily users, as multiple media outlets reported in September last year. According to South China Morning Post, ByteDance said it has helped more than 22 million content creators earn over 41.7 billion yuan (US$6.1 billion) in 2020, and is hoping to raise the number to 80 billion yuan (US$12.3 billion) in 2021.
According to Alipay's official website, it has over one billion users worldwide. With its payment service, ByteDance's Douyin joins the ranks of mobile payment giants such as Ant Group's Alipay and Tencent's WeChat Pay. Reuters reported that the set-up of Douyin Pay is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin, the Chinese version of TikTok.
ByteDance, parent company of video app TikTok and Douyin, has launched its own third-party payment service, Douyin Pay, as it looks to boost its eCommerce business in China, according to Reuters.
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