Tenpay is a digital payment service provider that operated by the Chinese multinational company Tencent Holdings Limited. The main headquarters of this platform is situated in Shenzhen, China. The main competitors of the company are Alipay, Asia Pay, Adyen, Soft Space, and MQL Pay. Some major clients of this platform are My Bag, Myvitamins, iHerb.com, Sasa.com, The Shilla, Bonjour, Mankind, The Hut Group, Style Nanda, Interpark, Rakuten Global Market, and Sugar Spice.
There is a great variety of solutions provided by the Tenpay Company, including in-app WeChat payment, WeChat offline payment, WeChat Official Account Payment, and TenPay Online Payment. The Chinese merchants are allowed to select the currency for which they want to get paid. The platform supports the liaison between the overseas merchants and China Customs General Administration.
It fully supports the C2C, B2B, and B2C payments. The individuals are also allowed to use this platform for paying utility bills. Furthermore, they can also refill the public transport cards through it. That’s not all; the TenPay platform allows the co-branded credit cards and related bills to pay using this service.
There are reports that this platform is working to make a partnership with the Chinese Central Bank for creating a central payments clearing platform for making online payments in the country.
There are over 200 million people registered with the platform whom they offer secure online payment services. It makes them one of the leading payment platforms in the country. This platform officially launched in September 2005, and since then they made numerous updates to make them better than the others.