Pinduoduo can be considered one of the biggest in the incredible Chinese digital world. During the last years, all relevant big tech Giants introduced its own payment method. This year was the turn of the innovative Pinduoduo. After Alibaba, Tencent, JD.com, Didi, Toutiao, Meituan, Baidu, Xiaomi (and not only), in the early December 2020, Pinduoduo finally launched Duoduo Wallet.
Not by chance, online payment users penetration in China reached 86% in 2020
Duoduo Wallet registration process is incredibly easy
Use this mobile payment method is very easy. In fact, Pinduoduo users even don’t need to insert the number of their debit/credit card to use the wallet.
In less than 30 seconds it is possible to complete the process, you just need to follow three steps to activate Duoduo Wallet:
- confirm your real name (that is already present in the system since you should be a Pinduoduo user to use this service)
- select your bank name
- enter the verification code, that Pinduoduo sent to your mobile number
Why did Pinduoduo launch Duoduo Wallet?
Up to now, it was possible to pay on the digital platform through Wechat Pay and Alipay. In addition, Pinduoduo leverages the WeChat eco-system to increase the number of its users. WeChat group and the easiness of using WeChat pay for Old Chinese people were all advantages for the platform.
So, why did Pinduoduo take this important step?
The reason behind this move is the same as those of the digital market’s Giants: increase the traffic of the platform by holding the consumers during the whole purchasing process.
Why your company should consider joining Pinduoduo?
If you have an agriculture-related business consider that Pinduoduo is going to be China’s leading agriculture platform, And….
Pinduoduo growth trend doesn’t stop during 2020, on the contrary, its:
- revenues rose by 89% in the third quarter of 2020, compared to Q3 of 2019
- average monthly active users in the third quarter of 2020 were 643.4 million, +50% yoy
- Gross Merchandise Value in one year period ended September 30, 2020 was 1,457.6 billion yuan, +73% yoy
- active buyers in in one year period ended September 30, 2020, were 731.3 million, +36% yoy
- annual spending per active buyer in one year ended September 30, 2020, was RMB1,993.1, +27% yoy
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