Regulators completely banned on Jan. 15 the sale of bank deposit products on third-party platforms to minimize risk from highly leveraged banks.
ByteDance joins the annual Spring Festival marketing blowout. Alipay prepares for the 2021 red envelope war. Edtech attracts more investment.
Douyin Pay was recently added to the app, allowing users to buy virtual gifts for livestreamers and pay for goods on the app’s e-commerce platform.