Tencent looks to tap smart transport

Chinese tech conglomerate Tencent Holdings Ltd is expanding its QR code payments, bus hailing and intelligent travel assistance, in an effort to grab a slice of China's burgeoning smart transportation market.

The Shenzhen-based company has ramped up efforts to promote the digitalization of China's public transport sector, and is working with local governments, bus and subway companies to promote its QR code payment.

Rather than swiping public transportation cards, or queuing for tickets to pay for journeys, commuters simply scan a QR code generated on their phones via a smartphone app. Since being launched in 2017, its QR code payment service for buses, subways and ferries have expanded to cover more than 50 million users in 100 cities, and the firm is eyeing further gains.