Cash on delivery costs e-commerce businesses more than other payment methods, said Alibaba Group Holding-backed e-retailer Lazada Group.
WeChat Pay and Alibaba’s Alipay, which dominate China’s digital payment market, have sought to expand their global footprint.
Tencent Holdings trumped forecasts to post its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising.
Malaysia's second largest bank, CIMB forms JV with parent company of Alipay to provide financial services
Digital payments firms are looking to tap the more than 370 million people without bank accounts that use cash on a day-to-day basis in Southeast Asia to offer lending and other financial services.
Alibaba and Tencent are also taking their technology, and deep pockets, abroad as they target cashed-up Chinese tourists and nascent payment markets in developing countries.
Tencent has applied for a license in Malaysia for its WeChat Pay, in what would be a first for the platform beyond mainland China and Hong Kong.
Stripe has partnered with Alipay and WeChat to enable merchants using its platform globally to accept payments from hundreds of millions of Chinese consumers.