Marbridge Daily

<- April 20, 2012 ->

China UnionPay Partners with Online Video Sites

Eastday.com, 4/20/12

Chinese online video site Youku (NYSE: YOKU), Chinese internet company Baidu's (Nasdaq: BIDU) joint-venture online video site iQiyi, and other video websites officially joined Chinese banking network China UnionPay's online payment platform recently. The platform facilitates micro payments (RMB 100 or less per payment) with no need for SMS verification of payments.

UnionPay's online payment platform counts a number of major travel, lifestyle and entertainment, 3C, and general goods retail sites among its clients, including the customer service center for China Rail (at 12306.cn), Air China, China Eastern, Beijing-based B2C e-commerce platform 360Buy, consumer electronics and home appliances retailer Suning (002024.SZ) and Gome (0493.HK), e-commerce sites Yihaodian, Vancl, Dangdang (NYSE: DANG), NewEgg China, and Moonbasa, and travel service Mangocity.com.

Editor's Note: For more information on this topic, please see "Jiayuan, Baihe Partner with UnionPay," MD 4/06/12 issue.

 
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