TENCENT(HK:00700) 第一财经·2025-11-07 09:14Core Viewpoint - The article discusses the challenges and innovations in cross-border payment systems, emphasizing the need for seamless user experiences and collaboration among various payment platforms to enhance global financial connectivity [2][4][8]. Group 1: Cross-Border Payment Landscape - The number of inbound and outbound travelers in China reached 333 million in the first half of 2025, highlighting the growing demand for cross-border payment solutions [3]. - Tencent's cross-border payment strategy focuses on three main areas: inbound payments, outbound payments, and cross-border remittances, all aimed at simplifying user experiences [3][4]. - Tencent has improved the success rate of foreign card binding to WeChat Pay by 30% within two months, enhancing the payment experience for foreign visitors in China [3][4]. Group 2: Technical and Regulatory Challenges - Achieving a seamless user experience in cross-border payments requires overcoming various technical standards, compliance issues, and regulatory requirements [4][12]. - Tencent's WeChat wallet was the first to connect Hong Kong's currency with mainland payment networks, allowing for direct payments in Hong Kong dollars in mainland China [4][5]. - The establishment of new standards for cross-border payments necessitates collaboration between companies and regulatory bodies, as highlighted by the People's Bank of China's initiatives [4][5]. Group 3: Industry Collaboration and Future Directions - Tencent has partnered with over 40 wallets across more than 10 countries, facilitating a more integrated payment ecosystem for users [5][9]. - The company emphasizes the importance of open collaboration in the complex field of cross-border payments, as no single entity can address all user needs [8][12]. - Tencent's cross-border payment network aims to connect various international wallets and remittance institutions, creating a more efficient and cost-effective payment infrastructure [12][16]. Group 4: AI and Security in Payment Systems - AI is being utilized by Tencent to enhance security measures against fraud and money laundering in payment systems [14][16]. - The company operates nearly 1,500 models to monitor and combat specific fraud characteristics, indicating a robust approach to risk management [16]. - Future payment systems are expected to incorporate a foundational model that can quickly identify and manage transactions that deviate from established norms [16].