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36Kr (EN)

… 36Kr’s observations, Shein’s product pages and promotional campaigns in 2024 have increasingly focused on clothing categories. Promotions for new or expanded categories, like home goods or electronics, have become less visible, and major sales events continue to prioritize fashion items.
Even within its semi-managed operations, Shein has set clear boundaries to protect its core business. Early semi-managed onboarding focused on bulky, hard-to-ship products weighing over 400 grams, such as home goods and wigs, while core categories like apparel remained off-limits. It wasn’t until July 2024 that Shein opened semi-managed onboarding to apparel sellers, and even then, it was restricted to niche segments such as plus-size items and activewear.
In 2024, Temu set an ambitious goal to triple its GMV, while Shein aimed for a more modest 40% growth. Industry observers argue that Shein’s conservative strategy makes sense. "Shein’s moat in fashion is already deep. Temu won’t beat them there," one insider said.
However, despite the competition between these two giants, some in the industry believe their biggest threat isn’t each other but the increasingly hostile geopolitical environment.
<a href="https://kr-asia.com/14-hours-offline-how-tiktoks-blackout-exposed-its-far-reaching-impact">TikTok’s position in the US remains precarious.</a> While Trump delayed the ban, the Supreme Court has ultimately ruled that the platform cannot continue operating in the US under ByteDance’s ownership. Trump’s latest demand—that TikTok sell a 50% stake—poses an existential challenge for the Chinese giant. Given the public sentiment in China, it’s unlikely such a compromise would be acceptable.
For the “four little dragons,” the biggest threat is not their competition but the increasingly fractured state of globalization itself.
Sellers are particularly concerned about policy changes to duty-free exemptions for small packages. Previously, packages under EUR 150 (USD 157.4) in the EU and USD 800 in the US were exempt from duties. However, in July 2024, the EU eliminated these exemptions, and by September the same year, the US announced plans to follow suit.
In response, Temu has been <a href="https://www.theinformation.com/articles/temu-aims-to-lessen-reliance-on-u-s-shoppers">scaling back its reliance on the US market</a>, aiming to reduce its GMV share from 60% to 30% while accelerating its expansion in Europe.
whereRelatedArticle
Over the past few decades, many Chinese cross-border sellers have built their fortunes by capitalizing on an open global trade system. In Shenzhen, 36Kr heard these sellers still passionately discussing bold strategies to defy the odds and rewrite their futures. However, many seem unaware that the road ahead is likely to be far more arduous than the one they have traversed so far.
One Chinese seller vividly recalled an experience at a trade show in the US. While TikTok’s official team was filming promotional footage, several US brands outright refused to associate with TikTok in any form. They declined to appear on camera or be linked to the platform in any way.
As much as people in China are moved by “TikTok refugees" sharing their struggles on Xiaohongshu (also known as RedNote), they may overlook a harsher reality: the world is increasingly divided. “People in the US are deeply split in their attitudes toward TikTok,” the seller told 36Kr. “Some fully embrace it, seeing it as their community. But others distrust it completely—they will believe any wild rumor they hear about the app.”
The efforts of cross-border platforms and sellers are only part of the equation. Larger forces, like the progression of history and geopolitical dynamics, also play a critical role. “This isn’t something we can control. We can only wait and see,” one seller told 36Kr.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3131267128826627">article</a> was written by Leslie Zhang and Yuan Silai for 36Kr, with contributions from Hu Yiting.

E-commerce faces a new frontier amid TikTok’s trials and Temu’s rise

ByteDance

Pinduoduo

TikTok

Shein

Temu

East Asia

TikTok Shop

On-demand Services

E-commerce

Short Video

Live Streaming

Video

Creative

Content

Consumer Services

On January 21, <a href="/company/xiaomi">Xiaomi</a> announced the launch of internal testing for its WinPlay engine, igniting fresh discussions in the console gaming community. This innovation reportedly enables Xiaomi tablets equipped with ARM architecture system-on-chips (SoCs) to install Steam and run console games. The initial testing phase is limited to the Xiaomi Pad 6S Pro 12.4.
Zhang Guoquan, director of Xiaomi’s smartphone system software department, said that the WinPlay engine remains a nascent technology under development. Using a three-layer virtualization system, the engine enables HyperOS to support Windows games across platforms. As a result, users can install and play Steam games locally with peripherals like controllers, keyboards, and mice.
According to Zhang, GPU performance loss after virtualization on the Xiaomi Pad 6S Pro 12.4 is only 2.9%. The tablet can run the 2013 title Tomb Raider at an average of 45 frames per second, delivering performance comparable to native mobile games. This tablet is powered by a Snapdragon 8 Gen 2 processor, with 16 gigabytes of RAM and 1 TB of storage, and is priced at approximately RMB 4,000 (USD 560) on JD.com. For most lightweight and indie PC games, its processing power is more than sufficient.
Currently, the WinPlay engine is available for internal testing exclusively for Xiaomi Pad 6S Pro 12.4 users in Xiaomi’s community. The company has not announced plans for a formal public release.
For users looking to play PC games on mobile devices, existing solutions include cloud gaming and Windows handheld devices.
NetEase, for example, offers cloud gaming for PC titles at around RMB 1.8 (USD 0.25) per hour without membership, though its library is limited. While early adoption discounts attract users, high server costs and technology expenses suggest future price increases are inevitable.
In 2024, Mihoyo scaled back its investment in the cloud-based version of Genshin Impact, despite strong initial traction. The company attributed this shift to advancements in mobile device performance, which now allow many players to run the game natively. Cost and stability also remain key challenges for cloud platforms.
Meanwhile, Windows handheld gaming devices provide unrestricted game access and PC-grade processors that outpace the Snapdragon 8 Gen 2. However, their high prices—RMB 4,000–5,000 (USD 560–700)—and limited functionality for tasks like studying or office work make them less versatile. Their primary advantage lies in optimized gaming experiences.
Xiaomi’s WinPlay engine could fill a gap between cloud gaming and expensive handheld consoles. If the engine proves reliable, it may carve out a niche in mobile gaming and generate new revenue for Xiaomi’s tablet ecosystem.
Rather than directly competing with handheld gaming consoles, the WinPlay engine would complement existing gaming scenarios, expanding the functionality of mobile devices. For tablet owners, this means gaming may no longer be limited to AAA titles—indie favorites such as It Takes Two and Stardew Valley, previously confined to PCs or consoles, could also become playable on tablets.
The evolution of mobile gaming over the past decade has coincided with significant advances in the ARM-based software ecosystem. Chip manufacturers have responded by releasing increasingly powerful products. Apple’s A- and M-series chips, known for their industry-leading graphical performance, exemplify this trend. The iPad Pro has emerged as a popular tool for productivity that doubles as a gaming device. Apple’s product launches routinely spotlight game development, using open-world titles to set GPU performance benchmarks.
On the Android and HarmonyOS fronts, flagship processors like Qualcomm’s Snapdragon and Huawei’s Kirin prioritize GPU upgrades. While Xiaomi’s Snapdragon 8 Gen 2-powered Pad 6S Pro supports the WinPlay engine, it lags behind newer chips like the Snapdragon 8 Elite in GPU performance and features like ray tracing.
If Xiaomi’s testing on the 6S Pro proves successful, other manufacturers could follow suit. After all, for users who already own a tablet, the ability to purchase a game on Steam once and play it on both PC and tablet platforms offers significant value without incurring additional costs.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3133793192303108">article</a> was written by Xue Dexing for 36Kr.

Turning tablets into consoles? Xiaomi’s WinPlay engine is on it

Xiaomi

Gaming

… the initial investment can be as low as RMB 300,000 (USD 42,000), with a potential return on investment within three to six months—similar to the recovery rate of short theatrical productions.
Despite these favorable conditions, Peng warned that the current boom presents a fleeting opportunity. “This phase is an opportunity, but as competition grows, it will only get tougher,” he said.
Despite over a year of development, room-scale VR remains in its infancy. The value chain for this emerging industry spans upstream content creation and hardware production, midstream distribution, and downstream marketing and venue management.
Among these segments, upstream content development is the most critical and resource-intensive. High-quality productions like Horizon of Khufu can take years to develop and cost millions of yuan—on par with budgets for major visual effects-driven films. Yet, such investments can yield substantial returns. Horizon of Khufu is projected to generate RMB 200 million (USD 28 million) in total revenue through its international tours and showcases.
The importance of compelling content is widely acknowledged by industry professionals, who frequently compare room-scale VR to cinema. They argue that content is the foundation of success. The cinema model, validated over the past century, ensures a steady content supply while amplifying revenue streams. However, the current catalog of room-scale VR titles in China is far from achieving the scale and maturity of the film industry.
As with many emerging industries, room-scale VR has attracted opportunistic players producing low-budget, low-quality projects. Some titles developed in mere months, costing as little as six figures in RMB, fail to deliver compelling experiences. According to 36Kr, over 100 room-scale VR titles were launched in 2024 alone, but the offerings vary widely in distribution channels, collaboration models, content types, and user experience. Beyond the shared feature of walking around with a VR headset, little consistency exists.
Consumers have voiced dissatisfaction with the current state of room-scale VR. One user told 36Kr that after trying it out of curiosity, they were disappointed by crude visuals, technical glitches, and unoriginal content. Even highly praised projects failed to inspire a return visit. "It’s not as fun as playing games on my computer," they said.
Configreality’s Peng echoed these concerns, noting that of the roughly 200 room-scale VR titles available in China, most suffer from poor quality and homogeneity. "Nearly two years have passed, and the only project people still talk about as a benchmark for good content is Horizon of Khufu. Few, if any, domestic productions have matched or surpassed it," Peng said.
A major issue plaguing room-scale VR venues is low repeat visitation rates. Many users try the experience once or twice but rarely return for a third visit. “A room-scale VR venue cannot rely on just a handful of titles. Audiences need variety to compare and choose from,” Peng said. This lack of content diversity and quality stifles the industry’s potential to establish itself as a mainstream entertainment option.
Additionally, the revival of cultural tourism has led local governments to integrate VR experiences into tourism initiatives. While this approach has generated significant revenue during peak seasons—some projects earned over RMB 1 million (USD 140,000) monthly in July and August—off season revenues in third- and fourth-tier cities have plummeted to as low as RMB 10,000–20,000 (USD 1,400–2,800). “LBE experiences generally have very low repeat rates,” OpenWorld’s Wang said. “Most users will only try it once, maybe a second time, but almost never a third.”
The room-scale VR trend is the latest in a series of VR booms. A white paper reviewed by 36Kr revealed that over 3,000 offline VR venues were established across China by 2016, offering gaming, education, and virtual tourism experiences. However, with profitability rates below 30%, many venues closed as the hype waned.
Although the metaverse has rekindled interest in VR, it is seen as more of a conceptual framework than a solution to the industry’s challenges. To achieve lasting success, the industry must prioritize building content-focused ecosystems and creating practical, commercially viable applications.
As the industry navigates its early stages, the longevity of the room-scale VR trend depends on its ability to overcome content quality issues, improve user retention, and establish a sustainable business model. Only then might it evolve from a novelty to a staple of modern entertainment.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3122126955171841">article</a> was written by Lan Jie for 36Kr, with contributions from Feng Min.

Room-scale VR is sparking interest, but will the trend last?

Entertainment

Augmented and Virtual Reality

Deep Tech

Japan's Advantest is solidifying its lead in global sales of chip testing equipment, and its share price is hitched to that of chipmaker <a href="/company/nvidia">Nvidia</a> as both ride the growth of generative artificial intelligence.
Advantest and US-based rival Teradyne hold a combined 80% global market share. They long stood neck and neck, but the Japanese player gained the upper hand around 2022, when generative AI began to attract attention.
Advantest widened its share to about 50% in 2023 compared with Teradyne's roughly 30%.
"Demand for AI chips will continue to increase," Group CEO Douglas Lefever said in his new year's message for 2025. "As semiconductors continue to become more complex, Advantest's core competence of semiconductor [testing] will only become more important."
Advantest's growth has been driven by test tools for system-on-a-chip (SoC) integrated circuits, which combine functions like processing and memory onto a single chip.
The company raised its sales forecast for SoC test equipment for the year ending March 2025 by JPY 32 billion (USD 202 million) in October, now projecting a 32% increase to JPY 324 billion, or USD 2.1 billion. That would account for more than half of its forecast JPY 640 billion (USD 4.1 billion) in consolidated sales.
As semiconductor technology evolves, the cost and difficulty of manufacturing increase. Chipmakers need to find defective products early in the design and mass production stages. For cutting-edge products in particular, more tests are conducted at various points in the process to improve yields.
Advanced AI chips involve cutting-edge manufacturing techniques like "chiplets"—tiny integrated circuts with specific functions that are combined into packages—and 3D packaging that stacks multiple chips.
"Advanced packaging calls for higher yields," Nomura Securities analyst Atsushi Yoshioka said.
Advantest test tools are in demand for a wide range of applications, from chip development to mass production.
To meet the needs of cutting-edge chip testing, Advantest spends heavily on research and development. Its R&amp;D expenses for the year ended March 2024 reached JPY 65.5 billion yen (USD 424.5 million), equivalent to 13% of sales.
Teradyne's figure was 12% in 2023. Top Japanese chip equipment maker Tokyo Electron spent 11% in the year to March 2024, while smaller Lasertec devoted 6% in the year ended June 2024.
Though R&amp;D expenses are high, returns are growing. Advantest's R&amp;D efficiency—total operating profit for the five years through March 2024 divided by R&amp;D expenses for the previous five years—is 3.02, up from 1.19 five years ago.
Teradyne's R&amp;D efficiency, calculated from QUICK FactSet data, grew from 1.75 in 2019 to 2.72 in 2023.
Incorporating outside technologies through acquisitions has helped improve R&amp;D efficiency. Advantest gained its V93000 series flagship SoC test equipment by acquiring U.S.-based Verigy for about USD 1.1 billion in 2011.
"We have access to a wide range of customers, from large-scale foundries and OSAT (outsourced semiconductor assembly and test) providers to startups," Advantest president Koichi Tsukui said.
The company expects consolidated net profit to grow 96% to JPY 122 billion (USD 790.7 million) for the year ending March 2025. The QUICK Consensus average of market forecasts projects net profit at JPY 139.3 billion (USD 902.9 million) for that year and JPY 189.3 billion (USD 1.2 billion) for the year ending March 2026.
Advantest's stock price soared 92% in 2024. Though not as large as Nvidia's 180% jump, the company performed better than Teradyne, which rose 16%. Tokyo Electron fell 4%, and Lasertec dropped 59%.
Shares are trading at more than 60 times forward earnings. But based on the market forecast of earnings per share for the year ending March 2026, shares look less pricy, at around 39 times.
Advantest shares have been rising in tandem with Nvidia's. The correlation coefficient between Advantest and Nvidia over the past three years was 0.93, compared to Teradyne's 0.62 and Tokyo Electron's 0.72.
"It is difficult to imagine a sudden drop in demand or a significant oversupply," said Shoichiro Kamisaki, an analyst at Tokai Tokyo Intelligence Laboratory. "This is a stock that will benefit the most from growth in generative AI chips."
Risk factors include the US tightening chip-related export restrictions on China, but "its relative exposure to the Chinese market, where a variety of risks are expected, is low," Nomura's Yoshioka said.
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Tech/Semiconductors/This-rising-Japanese-chip-stock-has-a-close-correlation-with-Nvidia" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

This rising Japanese chip stock has a close correlation with Nvidia

Nvidia

Semiconductors

Artificial intelligence

… solutions provider, has raised an eight-figure RMB sum in a Series A funding round led by Peakview Capital. It will use the newly raised capital to drive technology R&amp;D, product iteration, and market expansion. —<a href="https://36kr.com/p/3135077384313606">36Kr</a></li>
<li aria-level="1">Botinkit, a food tech company, has closed a Series A++ funding round, raising over USD 10 million. The round was led by China Creation Ventures, with Stars Capital serving as its financial advisor. The funds will facilitate Botinkit’s expansion efforts and further development of solutions for the food industry. —<a href="https://36kr.com/p/3135083547302408">36Kr</a></li>
<li aria-level="1">Vlai, a supplier of robotic components, has secured a seven-figure RMB sum in an angel funding round led by MiraclePlus. The company specializes in lightweight, high-density integrated joint motors for humanoid and four-legged robots. Vlai will utilize the funds for R&amp;D, product development, and mass production. —<a href="https://36kr.com/p/3133910873463301">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Sandbox VR, iMotorbike, Banyu, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Sandbox VR, a provider of location-based virtual reality experiences, raised USD 6.8 million through a convertible note funding round led by Gobi Partners, with participation from Abacus Ventures Growth Fund and Hyphen Capital.</li>
<li aria-level="1">iMotorbike, a platform for trading pre-owned motorcycles, raised USD 10 million in a Series A funding round led by Headline Asia, with participation from Ondine Capital, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst.</li>
<li aria-level="1">Banyu, a tech-enabled seaweed farming company, raised USD 1.25 million in seed funding led by Intudo Ventures. The funding will support the establishment of a seedling cultivation lab and the scaling of operations in Sulawesi.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Daniel Ek’s Neko Health raises USD 260 million, Pomelo Group acquires Arrow Checkout, latest China deals, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Australia

… https://console.kr-asia.com/wp-content/uploads/2025/01/Bananain-Store-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2025/01/Bananain-Store.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-151774" class="wp-caption-text">Photo of a Bananain storefront. Photo and header photo source: Bananain.</figcaption></figure>
<h3>36Kr: How do you balance online and offline strategies?</h3>
ZL: Online channels offer convenience, while offline stores provide tangible experiences. We prioritize user interaction and store design over sheer scale. Our offline strategy aligns with current trends of localized and personalized retail experiences.
<h3>36Kr: With the market shifting away from traffic-driven growth, how has your strategy adapted?</h3>
ZL: We were among the first brands on Taobao to use a brand-centric approach to e-commerce. We invested heavily in visual and marketing materials, crafting a distinctive voice and emotional value in our brand communications.
Our focus remains on refining our fundamentals. A strong foundation in product quality and innovation naturally resolves traffic issues.
<h3>36Kr: Bananain recently launched a down jacket line. What’s your perspective on this competitive market?</h3>
ZL: The down jacket market is vast, blending functionality and fashion. Success in this segment depends on finding a unique positioning and catering to diverse consumer needs.
<h3>36Kr: How has growth looked for Bananain over the past two years?</h3>
ZL: Despite market challenges, we’ve maintained healthy growth, achieving around 30% annual growth. Prioritizing foundational issues like product quality and management ensures sustainable development, rather than chasing numbers at any cost.
<h3>36Kr: Given the current environment, maintaining such growth rates must be challenging.</h3>
ZL: We are still a very young company. In just eight years, we’ve experienced rapid growth, and there’s still immense potential for us as a brand. For us, maintaining curiosity, embracing change, and continuously innovating are key. We’re willing to take risks and explore new ways to address comfort-related challenges.
We’re also problem solvers at heart. Tackling tough issues, avoiding complacency, and embracing challenges head-on are part of our DNA. Within our team, there’s a strong culture of reflection—identifying problems, facing them directly, and finding solutions. This mindset keeps us moving forward, no matter the obstacles.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3106612414402305">article</a> was written by Li Xiaoxia for 36Kr.

Redesigning the basics: How Bananain built a brand around comfort

Retail

… revenue.
Bilibili is also introducing automated advertising features to reduce barriers for advertisers and streamline long-term campaign management, aligning with strategies employed by other mature platforms.
One notable enhancement is the development of bidding system features that enable advertisers to analyze competitors’ bids, assess user value, and make real-time strategy adjustments. This functionality supports millisecond-level dynamic optimizations, which have the potential to significantly lower marketing costs.
Bilibili’s advertising business is now entering a phase of maturity. In the third quarter of 2024, the platform achieved single-quarter profitability, driven by seven consecutive quarters of advertising revenue growth over the past two years.
Looking ahead, Bilibili is expected to focus on refining its infrastructure and backend systems to further enhance advertising efficiency. Notably, its partner base grew by over 30% in 2024, while gross merchandise value (GMV) during the Singles’ Day shopping festival surged more than 150% year-on-year. High-value orders exceeding RMB 1,000 (USD 140) doubled compared to the same period last year, highlighting the platform’s continued growth trajectory.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3128076372285701">article</a> was written by Wang Yuchan for 36Kr.

Bilibili’s 2025 advertising game plan: Simplify, innovate, and grow

Bilibili

Creator Economy

… src="https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-1005x1024.jpg" alt="" width="550" height="560" srcset="https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-1005x1024.jpg 1005w, https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-295x300.jpg 295w, https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification-768x782.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/01/Alipay-Tap-Gamification.jpg 1080w" sizes="(max-width: 550px) 100vw, 550px" /><figcaption id="caption-attachment-151762" class="wp-caption-text">Alipay’s “Tap!” incorporates gamification features to engage users, similar to other apps.</figcaption></figure>
“At first, it felt unfamiliar, but now I use it occasionally because of the discounts—sometimes I can save a few RMB. However, if the staff don’t promote it actively or there’s no significant discount, I still prefer using WeChat’s QR code payment,” Joe said.
Interviews with users in Shanghai, Hangzhou, and Changsha reveal that "Tap!" resonates more with Android users, as the feature feels entirely new to them and involves fewer steps than QR code payments.
For iOS users, however, reactions have been mixed. Due to Apple’s NFC restrictions, iOS users must open the Alipay app each time, making the process less convenient. "It’s not just a tap—I have to set permissions and manually open the app, which makes it no different from QR code payments," one user said. Many believe that unless Alipay collaborates with Apple Pay to introduce a virtual card solution, adoption among iOS users will remain limited.
"Tap!" represents Alipay’s effort to reclaim a larger share of the offline payment market. While Alipay has thrived in online user conversions through Taobao, it has struggled to differentiate itself offline, where WeChat Pay dominates.
Historically, Alipay pioneered barcode and QR code payments a year ahead of WeChat. However, Alibaba lacked a robust mobile app ecosystem at the time. Taobao’s mobile app launched late in 2013, with a full pivot to mobile occurring only in 2014. In contrast, WeChat leveraged its social network and built-in scan feature to penetrate offline scenarios like food orders and ticket verification, riding the wave of mobile-first adoption. As a result, Alipay was forced to shift from being an innovator to a follower.
After six months, "Tap!" has gained traction among early adopters, but hurdles remain before it can rival QR code payments. For some users, "Tap!" feels too convenient, raising concerns about control. "With QR code payments, I can review the amount or use biometric options like face or fingerprint recognition. But with ‘Tap!’ I feel less in charge—it feels less secure," one user told 36Kr. Others worry about accidental payments if their phone is unlocked and inadvertently taps a device.
QR codes can also be placed anywhere, allowing customers to scan remotely or pre-pay parking tickets. In contrast, "Tap!" requires physical interaction with a device, creating potential bottlenecks during busy periods.
Chain stores and shopping centers are more willing to adopt "Tap!" because it helps integrate users into their membership systems, facilitating private domain operations. However, brands with self-checkout systems, such as Muji and Uniqlo, have yet to adopt the feature.
Smaller businesses, like mom-and-pop stores, often lack the resources or interest to promote "Tap!" effectively. Many storeowners accept subsidies but leave the devices idle, failing to encourage customer use. Additionally, "Tap!" requires stable internet connections for both merchants and users, while NFC payments need only the POS terminal to be online. Small shops with unstable networks often experience payment delays.
Some users criticize the Alipay app for being overly cluttered. "No app has as many users or as much money flowing through it as Alipay, but when you open the app, you’re bombarded with ads, mini games, and videos—it barely feels like it wants you to use it for offline payments,” a user wrote on Zhihu.
In an increasingly bloated app ecosystem, innovative features like "Tap!" may be Alipay’s best shot at reshaping consumer habits and cementing its status as China’s national payment app.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3115349943553544">article</a> was written by Peng Qian for 36Kr.

Can Alipay’s NFC push with “Tap!” disrupt QR code payments?

Ant Group

Alipay

Fintech

Payments

… planning, will complement DeHaat’s existing offerings in market linkages, mechanization, and financial advisory services for farmers.
whereRelatedArticle
<h3>Aleph, uHoo, Cyfirma, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://aleph-labs.com/">Aleph Digital Technologies</a>, a Singapore-based AI solutions provider, raised USD 750,000 in seed funding led by Cocoon Capital, with participation from Graiden Gorge Investments.</li>
<li aria-level="1"><a href="https://getuhoo.com/">uHoo</a>, a Singapore-based provider of indoor environmental quality (IEQ) monitoring solutions, closed a USD 3.7 million funding round comprising equity and debt. Wavemaker Ventures and Menarco Development Corporation co-led the round, with participation from Undivided Ventures, Neo Office CEO Raymond Rufino, Lighthouse Canton, and other existing shareholders.</li>
<li aria-level="1"><a href="https://www.cyfirma.com/">Cyfirma</a>, a Singapore-based cybersecurity firm specializing in threat intelligence and management, received an undisclosed investment from MDI Ventures, the venture capital arm of Indonesia’s Telkom Group.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Sandbox VR and iMotorbike secure funding, Virtuos to acquire three studios, Meta and Temasek back Databricks, and more

Indonesia