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Features
2020/01

Tencent Wants To Invest In Video Games And Payment Services Overseas

It looks like Tencent will still invest in video games by buying stakes in various companies, but it looks like the Chinese mega-giant is looking to go to the West and other places outside of China to invest in payment platforms. After the company saw an increase in revenue thanks to WeChat’s mini-app ecosystem, the company wants to focus on payment services and smart retail overseas.

Late last year, we reported on Tencent seeking to increase its presence in the U.S. by offering more console games designed for American gamers.

One way to appeal to U.S. goers in the games industry, Tencent plans on partnering with Nintendo to reach American citizens unlike before by using popular characters like Mario.

Instead of relying on video games to reach people overseas, Tencent has found another way, thanks to WeChat as per uk.reuters.com.

The publication site in question cites Tencent president, Martin Lau, saying the following to representatives of more than 500 Tencent-backed companies last week:

“Previously our traditional investment sectors were mostly focused on video games content and frontiers of science and technology. However, with the development of Tencent’s WeChat mini-app ecosystem and payment platform, we will pay more attention to smart retail and payment platforms in [the] future.”

The publication site also re-iterates its headline by saying that the Chinese mega-corporation wants to invest overseas and in industries such as payment platforms and smart retail since the company is invested in more than 800 organizations.

Those organizations include 70 listed companies and over 160 are valued at more than $1 billion, according to Reuters.

So what does this all mean? Well, it means that Tencent wants to branch out to other sources to make money. However, video games will still be something of interest to Tencent, but creating platforms similar to WeChat oversees is a new focus as of right now.

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