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ByteDance pushes into payments with help from J.P. Morgan
Japanese businessmen having an agreement

J.P. Morgan has been quietly working with ByteDance, the Chinese tech giant, on payments technology that is helping ByteDance to expand into more than two dozen markets and reach millions more users. The partnership is just one piece of ByteDance’s broader push into the fintech space. Users around the world spent USD 3.4 billion on TikTok in 2022, up from USD 2 billion the previous year, and spending in the U.S. alone more than tripled—to USD 670 million—from the year before.