ByteDance Pushes Into Payments With Help From J.P. Morgan
source link: https://fintechranking.com/2023/01/05/bytedance-pushes-into-payments-with-help-from-j-p-morgan/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
ByteDance Pushes Into Payments With Help From J.P. Morgan
J.P. Morgan has been quietly working with TikTok parent ByteDance on payments technology that is helping the Chinese giant expand into more than two dozen markets and reach millions more users. The partnership is just one piece of ByteDance’s broader push into the fintech space.
TikTok is a sprawling marketplace: An enormous amount of money moves across the platform each day as people buy coins to send virtual gifts (like diamonds and roses) to their favorite creators and others they meet through the app, who can then convert those items into cash. Users around the world spent $3.4 billion on TikTok in 2022, up from $2 billion the previous year, and spending in the U.S. alone more than tripled—to $670 million—from the year before, according to data analytics firm Sensor Tower.
Read more: Forbes
Related
J.P. Morgan in a Car-Lending Chase
By EMILY GLAZER for WSJ J.P. Morgan Chase & Co. is trying to make the car-buying process easier. The largest U.S. bank by assets is planning to launch a new digital offering that lets customers shop for a car and secure financing on their computer or smartphone, potentially trimming some of…
August 26, 2016
In "Analytics"
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK