Chinese internet giant Tencent is known for its range of popular games such as Playerunknown’s Battlegrounds (PUBG) game. The mobile game has become a popular one in India such that it was even banned recently. One lucrative aspect of online games is in-app purchases. In order to leverage the popularity of its mobile games, Tencent is reportedly planning to enter the Indian market soon with its WeChat Pay payment platform. 

According to tech blog Entrackr, Tencent execs met with India’s National Payment Corporation of India (NPCI) a couple of weeks back to discuss obtaining a license for the payment service. The Chinese tech giant plans to launch the service as early as May or June this year.

Read Also: Xiaomi announces the full rollout of Mi Pay payment service in India

WeChat Pay is based on the Unified Payments Interface (UPI) which has a lot of participants in India. WeChat Pay will have to contend with outfits such as GooglePay, PayTm, BHIM, PhonePe and Mi Pay. With the monthly UPI transaction volumes consistently surpassing  Rs. 1 trillion ($14.49 billion) in December, January, and February according to NCPI’s website, Tencent may be heading for a lucrative market. Also, the popularity of its range of gaming apps may provide it with the avenue to break into the market.

(source)

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