News Snapshot:
TikTok owner ByteDance launches payments in China as it pushes into fintech and e-commerce ByteDance has launched a new payment service within Douyin, the Chinese version of short-video sharing app TikTok. Douyin users can choose Douyin Pay to make purchases within the short-video app. Creators usually sell items or merchandise related to their content. “The set-up of Douyin Pay ... is to supplement the existing major payment options, and to ultimately enhance user experience on Douyin,” ByteDance said in a statement. ByteDance owns both Douyin and TikTok. Indeed, Douyin already offers payment options from Alibaba affiliate Ant Group’s Alipay and...
