Tuesday, 15 December 2020 02:00

Pinduoduo Tests New Wallet Function

Duoduo Wallet, launched by Pinduoduo, China’s largest e-commerce platform, is currently undergoing internal testing. The payment service is provided by Fufeitong (付费通), a third-party payment company controlled by Pinduoduo through affiliates. Fufeitong, established in 2003, has numerous 3rd party payment licenses, including internet payment and mobile payment. In the second quarter of 2020, the e-commerce platform had approximately 643.4 million monthly active users. Pinduoduo currently supports Alipay and Wechat Pay, which charges merchants for withdrawal or transfer. The new wallet Duoduo will support free withdrawal to bank cards to acquire new users.

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