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KEY STAT | WeChat mini program overtakes Meituan as fourth largest transaction platform in China

Written by Julianna Wu Published on 

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The “apps inside WeChat” opened the e-commerce possibility for China’s No.1 chatting and social media app.

WeChat’s mini programs totaled over USD 116 billion transactions in 2019, Tencent (HKG: 0700)’s latest financial report shows.

The figure is higher than the 2019 annual transaction volume for the world’s largest on-demand services platform Meituan (HKEX: 3690), making WeChat the fourth-largest online transaction platform in China, trailing only Alibaba (NYSE: BABAHKEX: 9988), Pinduoduo (NASDAQ: PDD) and JD.com (NASDAQ:JD; HKEX: 9618).

As of August 2020, WeChat mini programs have over 400 million daily active users, while there are over 1.2 billion monthly active users for WeChat.

WeChat team said earlier that mini programs’ total transaction in the first half of 2020 has caught up with that of the whole 2019. 36Kr estimates the total transaction volume of the mini programs in 2020 is likely to exceed RMB 1.6 trillion (USD 230 billion).

More on WeChat please read: TECH PANO | How do WeChat copes with domestic competition while facing external threat from the US

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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