Alibaba Group (9988) and Tencent Holdings (HKG:0700) are considering opening up their services to each other as Beijing clamps down on anti-competitive practices in the tech sector, The Wall Street Journal reported Wednesday, citing people familiar with the matter.
The potential move will likely break the virtual wall that the two tech giants have built, preventing users from accessing one company's tech platform using the other's services, the report said.
Alibaba may allow users of Tencent’s WeChat Pay to make payments on Alibaba’s e-commerce marketplaces Taobao and Tmall, a move that could be announced in the coming months, according to the report.
Tencent will also likely allow selected Alibaba services to access WeChat users through mini-programs or light apps that are embedded in the main WeChat platform, the WSJ said.
The report comes as China tightens its crackdown on monopolies, particularly in the tech industry dominated by Alibaba and Tencent.
In April, China's antitrust regulator slapped a record fine of 18.23 billion yuan ($2.82 billion) on Alibaba over what it described as the company's abuse of market dominance for years.
The potential move will likely break the virtual wall that the two tech giants have built, preventing users from accessing one company's tech platform using the other's services, the report said.
Alibaba may allow users of Tencent’s WeChat Pay to make payments on Alibaba’s e-commerce marketplaces Taobao and Tmall, a move that could be announced in the coming months, according to the report.
Tencent will also likely allow selected Alibaba services to access WeChat users through mini-programs or light apps that are embedded in the main WeChat platform, the WSJ said.
The report comes as China tightens its crackdown on monopolies, particularly in the tech industry dominated by Alibaba and Tencent.
In April, China's antitrust regulator slapped a record fine of 18.23 billion yuan ($2.82 billion) on Alibaba over what it described as the company's abuse of market dominance for years.