Title: A Case Study of Tencent’s Mobile Payment International Expansion Based on Diffusion of Innovations Theory
Author: Zhang Shiman
Advisor: Dr. Zhang Li
Degree: Master of Business Administration
Major: International Business Management
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2567 (2024)
Published: The 8th STIU International Conference “TechVision Leadership: Fostering Social Sustainability” July 4-5 2024 (pp.127-137) Proceedings PDF
Abstract
The rapid expansion of mobile payment platforms has revolutionized the global financial landscape, with WeChat Pay emerging as a dominant player in China. However, Tencent’s efforts to expand WeChat Pay internationally face distinct challenges due to differences in consumer behavior, technological infrastructures, and regulatory environments. This study aimed to investigate the key factors influencing WeChat Pay’s international market penetration. The objectives of this study were: 1) To examine the relationship between market promotion strategies and Tencent’s mobile payment international market penetration rate, 2) To examine the impact of technological adaptability on user acceptance of WeChat Pay in international markets, 3) To examine the influence of user acceptance on the international market penetration rate of Tencent’s mobile payment services.
A quantitative research approach was adopted, utilizing a structured questionnaire to collect data from 400 WeChat Pay users in Southeast Asia and Europe. A stratified random sampling method was used to ensure demographic diversity. The instrument measured respondents’ perceptions of WeChat Pay’s promotional efforts, technological adaptability, and user acceptance, alongside the perceived penetration rate of the platform in their respective regions. The collected data was analyzed using descriptive statistics, Pearson correlation, and multiple regression aanalysis.
The results showed a significant positive relationship between market promotion strategies and international market penetration. Technological adaptability also had a strong positive effect on user acceptance, which, in turn, was a key predictor of market penetration. These findings suggest that effective localized marketing, seamless technological integration, and a user-friendly experience are critical to WeChat Pay’s success in global markets.
In conclusion, Tencent’s ability to expand WeChat Pay internationally depends largely on its capacity to adapt its strategies to the unique needs of each region. The study recommends that Tencent continues to focus on region-specific promotional campaigns and ensure its platform is technologically compatible with local infrastructures. Further research should explore regulatory barriers and competition in specific markets to provide more comprehensive insights into the global adoption of mobile payment platforms.
Keywords: mobile payment, international expansion, diffusion of innovations theory, user acceptance
A Case Study of Tencent’s Mobile Payment International Expansion Based on Diffusion of Innovations Theory
6517195810 Zhang Shiman 2567 (2024) A Case Study of Tencent’s Mobile Payment International Expansion Based on Diffusion of Innovations Theory สารนิพนธ์ (Independent Study), Advisor: Dr. Zhang Li, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University