Wang Huiwen on payments
From Meituan Dianping's SVP on Expansion, Travel Business · · BloombergTelevision
“We are not really looking to buy into the payments market — payments are an important step of our closed‑loop experience; we have our own payment solutions but maintain an open strategy with other third‑party players.”
On , Wang Huiwen, Cofounder at Meituan, spoke about payments during Meituan Dianping's SVP on Expansion, Travel Business on BloombergTelevision.
About Wang Huiwen
In a November 2017 interview, Wang Huiwen, senior vice president at Meituan Dianping, discussed the company's expansion strategy and its position relative to larger tech firms. He stated that the market remains "so big and still so early in the online penetration race," noting that the industries Meituan operates in have only a 5% online penetration rate. He said the platform has over 290 million active consumers and 4 million active merchants, providing a foundation for serving younger generations. Wang confirmed the company is exploring pilot projects including car-sharing, describing Meituan as a "disruptive innovator" that needs to be sensitive to market trends. Regarding competition, Wang said Meituan has a 60% market share in food delivery and is growing, attributing this to a platform strategy that encourages cross-purchasing across services like restaurants, movie tickets, and hotel bookings. He described the travel business as differentiated by targeting a larger base of leisure travelers. On payments, Wang said Meituan has its own solutions but maintains an open strategy with third-party players. He acknowledged increased government scrutiny of fake reviews and artificial sales, stating that content integrity is a priority with investments in technology and offline efforts. When asked about an IPO, Wang said it would be "a natural result of business growth" and that the company has no timetable but manages itself like a public company.