Following its recent entry into the C2C e-commerce market, Tencent has now set foot in the e-payment field by formally launching an epayment tool called Tenpay (Cai Fu Tong).

Tencent says its Tenpay features such advanced functions as personal finance management and transaction management in addition to the basic functions of traditional payment tools.

The epayment market in China is rapidly heating up this year thanks to the influx of many technology companies including Capitel, ChinaBank Payment, YeePay and CNcard.net.