Zhixiang Technology has formed a strategic partnership with Chinese third-party payment processor Alipay that will see the Shanghai-based power bank rental firm integrate Alipay's Sesame Credit user credit rating system into its Energy Monster service. The two parties will jointly launch a nationwide marketing event, whereby Energy Monster will charge only RMB 0.01 per hour of charging during the months of August to September.
Energy Monster generally charges RMB 1 per hour of power bank rental.
The two sides said that in the future they will continue partnering on various other business endeavors.
Alipay is operated by Ant Financial, the financial services affiliate of Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA).
Editor's Note: While an Energy Monster customer service representative was unable to provide Marbridge with any further details of the marketing partnership, similar partnerships between Sesame Credit and other service providers usually see a cut rate or fee exemption offered to Sesame Credit users whose credit score meets a certain minimum threshold.