Tencent has now received a license that allows it to sell mutual funds on WeChat to its more than 980 million users. WeChat is showing that messaging channels may be a convenient avenue for consumers to make financial decisions and transact (at least in China).
Tencent has received a license that allows it to sell mutual funds on WeChat and give the popular messaging app’s 980 million users Tencent already has licenses to operate mobile payments, insurance and micro financing on the WeChat messenger platform WeChat could be the next big broker-dealer among high-net-worth Chinese investors. Its parent company, Tencent, now has a license that allows it to sell mutual funds on WeChat and give the popular messaging app’s 980 million users more options to help boost funds sold on the platform. It also gives Tencent more sway in deciding which financial products third-party companies can sell on its different platforms.
