The South China Morning Post writes "Tencent's WeChat testing money market fund and score system in bid to catch up with Alipay." They tell us, "WeChat Pay has launched a beta version of a new money-market fund as its parent Tencent Holdings seeks to expand its payment services to help diversify business in the face of uncertainties in its gaming segment. Tencent's Lingqiantong, similar to Alibaba's Yu'e Bao, was released in beta version last Friday, inviting users to test the platform's functions. The new features - which allow users to earn interest from their balance as well as transfer payments to pay bills, send virtual red packets and pay off credit card debts -- were rolled out on a test basis to a small pool of users in September last year. The move is seen as an attempt by WeChat Pay to catch up with Alipay, which operates the world biggest money-fund market Yu'e Bao and is the country's third-party payments provider."

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