抖音买单，真来了

Core Viewpoint - Douyin has launched a new payment feature called "Douyin Buy" which aims to disrupt the mobile payment market dominated by WeChat and Alipay, potentially changing the competitive landscape of the industry [1][9]. Group 1: Douyin Buy Launch and Features - Douyin Buy has been quietly tested in major cities like Shanghai, Shenzhen, and Hangzhou, targeting high-frequency offline consumption scenarios such as dining and convenience stores [1]. - The payment process allows consumers to pay directly within the Douyin app using various payment methods, including WeChat and Alipay, without switching apps [1][3]. - A new "tap to pay" feature is being tested, which would allow users to complete transactions by simply tapping their phones on payment devices [3]. Group 2: Market Impact and Competitive Landscape - The introduction of Douyin Buy has the potential to shake up the mobile payment industry, which is valued at nearly 600 trillion yuan [4]. - Douyin's entry into the payment space is seen as a strategic move by Zhang Yiming, with preparations dating back to a 2020 acquisition of a payment license [4][8]. - Despite Douyin's innovative approach, the entrenched positions of WeChat and Alipay, which together hold about 90% of the market share, present significant challenges for Douyin [11][12]. Group 3: User Base and Market Share - As of September 2025, WeChat has approximately 1.414 billion users, while Douyin has reached around 1 billion users, and Alipay has also surpassed 1 billion monthly active users [10]. - In Q1 2025, WeChat's payment market share was reported at 59.7%, while Alipay held 36.2%, indicating a strong dominance of these platforms in the payment sector [11]. - Douyin's unique integration of content and payment could attract users, but it remains to be seen if it can effectively compete with the established giants [9][12].