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The Trophy Goes To Payment

It is largely expected - the best part of Tencent, the makers of WeChat, is the payment unit. Yes, Tencent, best known for the WeChat messenger that almost everyone in China uses, has a growing fintech business making up 26% of its revenue last quarter. On its own it would be China’s 4th largest listed company and the world’s 6th largest financial services firm. That underscores my point that without payment at the heart, most digital platforms in emerging markets like Africa, India and China will struggle.

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