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Amex partners China's Tencent on e-payments

28 September 2011  |  5417 views  |  0 Chinese flag

American Express is teaming with Chinese Internet giant Tencent Holdings on cross-border online payments.

The deal will enable users of Tencent's e-payments service to make purchases outside of China, according to press reports.

The agreement will help Tencent expand its scope beyond its core business of online gaming and social networking while Amex will gain a foothold in the fast-growing Chinese market.

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