Chinese internet company Baidu's (Nasdaq: BIDU) Baifubao payment platform (www.baifubao.com) has launched a new feature allowing users to add credit to their Baifubao online payment accounts using China Mobile's (NYSE: CHL; 0941.HK) EasyOwn or China Unicom's (NYSE: CHU; 0762.HK; 600050.SH) One-Card Charge phone balance recharge cards.
The new mobile payment channels constitute Baifubao's first non-banking payment channels. There is no denomination limit on the EasyOwn and One-Card Charge recharge cards (which come in RMB 35, 50, 100, and 300 denominations) currently supported, and no limit on the daily amount users can add to their accounts. After purchasing the phone recharge cards, users can either enter the card numbers and PIN to charge their Baifubao account balance, or use the cards as a direct payment method for Baidu's YouA B2C and C2C e-commerce platform.
A spokesperson for Baifubao said that during the three-month "discount period" following the launch of the new service, Baifubao will levy a 5% transaction fee for the service; after this period concludes, the transaction fee may increase.