There’s having a dominating market presence, and then there’s what Tencent has with WeChat, the super-app that, among other things, serves as one of China’s two leading payment services. With 1.3 billion monthly active users, WeChat is ahead of rival Ant Group and its Alipay service. Now China’s platforms are tearing down their walls in part due to government pressure on the broader sector. In September 2024, Alibaba announced that WeChat users can now pay for things on the e-commerce company’s Taobao platform without ever leaving the Tencent app.
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Tencent can be found on just about every phone in China, thanks to its ubiquitous messaging platform WeChat. Now the Chinese tech giant is leveraging that user base to supercharge the country’s philanthropic giving in its 99 Giving Day donation matching program, a program that takes place each year in early September. Now in its ninth year (and now typically lasting 10 days), the campaign allows ordinary Chinese users to donate to hundreds of thousands of charities through their phones–and share the results on social media to encourage even more giving. Tencent then adds an additional donation of a randomly generated amount on top of that. Last year, Tencent mobilized around 27.5 million people to donate just over $450 million. The campaign, since its inception, has channeled almost $1.8 billion to 130,000 different projects.
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