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witness history again.

the internet giants who had not interacted with each other for a long time and even built high walls to block each other finally ushered in the great reconciliation of the century. starting from september 27, consumers can use wechat payment when shopping on taobao. however, you have to update taobao app to the latest version. wechat pay stated that subsequent users who use wechat pay on taobao can also check payment vouchers and user bills in wechat.

in other words, taobao, jd.com, pinduoduo and meituan all support wechat payment.

at the same time, taobao and tmall will also officially connect to jd logistics in mid-october. taobao merchants will have an additional jd logistics option when selecting the delivery method of goods in the system. at the same time, jd.com will also be connected to cainiao express and cainiao post.

in addition, jd.com will also officially access alipay payment before "double 11". by then, jd pay, union quick pass, wechat pay and alipay payment will all appear on the payment page after placing an order on jd.com.

a vigorous movement to “tear down the wall” of the mobile internet has begun.

tencent and alibaba tear down the wall

throughout the history of china’s internet development, it is not uncommon for giants to block links to each other. taobao and wechat have blocked each other for 11 years, and douyin and tencent have also had "accidents" because of blocking links...

at the end of july 2013, alibaba suddenly announced that taobao would suspend third-party application services related to wechat and cut off all wechat data interfaces. the word "wechat" even became a banned word. taobao fired the “first shot” in blocking wechat.

tencent then blocks the redirection of taobao download links and displays, "the taobao url you visited has been blocked. if you need to browse, you can long press the url to copy and access it using a browser."

the two sides became rivals and over the next few years the walls were built higher and higher. as soon as alibaba launched laiwang, a chat tool that matched wechat, tencent blocked the invitation registration link for laiwang in wechat. later, alipay directly closed the payment interface for weidian merchants. after alipay launched the red envelope function, it was hit by tencent's dimensionality reduction. year after year of blocking, even a weird product like "taobao ling" was born.

the internet, which was born to break down barriers and build channels, has made everything less convenient in china. according to "kuaima financial media", in the past, each product belonged to each company, and our users were growing every day, so conquering cities and territories was the first priority for development. however, as the mobile internet has basically achieved national coverage, interconnection has shown its superiority. on the one hand, interconnection can bring a better experience to users, and on the other hand, it can also bring some increments to each platform.

in november 2021, some users discovered that wechat suddenly unblocked taobao links, and they could directly click on the link to enter the product interface. later, the option of "transfer to wechat friends" was also added to alipay's transfer function.

in 2023, taobao merchants can post advertisements on wechat. it is worth mentioning that taobao officials also placed advertisements in wechat moments during the chinese new year.

nowadays, taobao supports wechat payment, which can be regarded as an interconnection and embrace between the two internet giants. the "cold war" between the two sides has ended to a certain extent.

the most important reason for the transition from conflict to reconciliation was that the relevant departments came forward to "stop the fight." in september 2021, the ministry of industry and information technology, together with multiple competent departments, required each platform to unblock them within a time limit, otherwise they will be dealt with according to law. tencent holdings subsequently responded with "firm support." alibaba also expressed "serious implementation."

after years of development, the mobile internet has entered the "stock era" of steady development from the "incremental era" of massive expansion. without the demographic dividend and traffic growth, the giants no longer spend money to develop new products. instead, they collectively reduce costs and increase efficiency. in the past year, alibaba has lost 20,000 employees, and tencent has lost more than 3,000 employees.

in addition to staff reductions, a large number of non-core businesses have also been frozen, and major giants have concentrated on their main businesses. but focusing on the main business must also be developed, and the business must continue. the answer is to get together after tearing down the wall and open up the traffic pools of each company to share traffic.

"win-win" situation

the two largest internet companies in china took the lead in finding common interests in mobile payments.

for taobao merchants, accessing wechat pay means accessing a large number of potential e-commerce users. although the probability of coincidence is very high, there are still increments coming in. for consumers, accessing wechat pay is a great convenience for consumers who are accustomed to using wechat pay. it can reduce obstacles in the intermediate payment process and improve consumers’ shopping experience. especially for middle-aged and elderly people, most of them actually only have wechat pay and not alipay. after taobao is connected to wechat pay, the elderly can also shop easily on taobao.

at the same time, in the current fierce market competition, taobao's access to wechat payment can improve its competitiveness to a certain extent, especially when facing competitors such as pinduoduo and jd.com that also support wechat payment.

for wechat pay, accessing taobao, one of china's largest e-commerce platforms, can greatly expand payment scenarios and increase transaction volume and user stickiness. in the future, the valuation of wechat pay will also be further improved.

however, in the view of "kuaima financial media", with the downgrade of consumption and the sinking of the e-commerce market, the only increase in the number of elderly people who did not play computers or surf the internet before. they may not have alipay on their mobile phones, but they must have wechat. for them, alipay is not a must-install app when buying things through mobile phones.

in contrast, taobao's competitors, whether it is jd.com, pinduoduo, douyin, or meituan, all support wechat payment. therefore, for taobao, not supporting wechat payment is a self-destructive strategy.

but there is a problem. when consumers pay on taobao, the payment is pre-stored in alipay. the revenue will not enter the merchant's account until the consumer receives the goods. in order to improve efficiency, alipay usually settles payments from merchants once every half a month or once a month, which is the billing period. all along, the funds in the account period can bring generous interest income to alipay. after taobao connects to wechat payment, where the merchant's funds are stored is a problem.

in addition, when consumers use alipay to pay, alipay will also charge merchants a handling fee. generally, the credit collection service fee is 0.6%. after taobao connects to wechat pay, these handling fees will most likely be taken away by wechat pay.

furthermore, when major platforms such as taobao, jd.com, pinduoduo, douyin and meituan all integrate wechat payment, who will check and balance wechat payment?

all in all, the internet is supposed to be "connected", but now it is just returning to its original appearance.