Xiaonei Launches Payment System for Application Developers

Tencent Tech, 10/13/08

Chinese social networking site Xiaonei will launch its new "Xiaonei Dou" ("Xiaonei Beans") payment system and open API this week to provide payment services for Xiaonei application developers, opening up a new profit channel for developers.

"Xiaonei Beans" are a virtual currency used throughout Xiaonei as a way of encompassing payment service plans. The site has established an online payment system connected to major banks and online payment processors. Once the company connects the payment system to its open API, third-party developers will be able to accept payment through their applications.

Keywords: API Internet online payment virtual currency Xiaonei e-commerce e-payment SNS Web 2.0

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