ByteDance to square off against Alibaba, Tencent in digital payments with Douyin Pay

ByteDance to square off against Alibaba, Tencent in digital payments with Douyin Pay

The logo for Beijing ByteDance Technology Co.'s Jinri Toutiao mobile app is displayed at the company's headquarters in Beijing, China, Photographer: Giulia Marchi/Bloomberg

TikTok-owner ByteDance Ltd. has launched its own digital payment platform, setting the stage for the short video powerhouse to square off against China’s tech titans like Alibaba and Tencent in the massive e-commerce market.

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