Jingdong Obtains Securities Payment License, Plans Financial Products

Sohu IT, 12/10/13

Liu Changhong, Director of Financial Development at Beijing-based B2C e-commerce platform Jingdong, has stated that Jingdong's online banking and third-party payment subsidiary Chinabank Payments has obtained a securities payment license from the China Securities Regulatory Commission (CSRC), with the license already issued a full two weeks ago. According to Liu, the CSRC is in the final stages of approving cooperation planned between Jingdong and fund companies, with financial products to be released on Jingdong soon.

Jingdong's financial products will be different from Chinese third-party payment processor Alipay's Yu'e Bao account balance value-added service, according to Liu.

The company is planning to release a number of consumer-facing financial products. Jingdong has previously released a short-term loan service for partner suppliers.

Keywords: Liu Changhong e-commerce Internet license online banking B2C third-party payment Jingdong Chinabank Payment financial services

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