Founded in 2003, Chinabank Payments’ business covers online payment, mobile phone payment and fixed-line payment. After acquiring Chinabank Payments in October 2012, JD reconstructed the company in terms of share and legal structure.
Chinabank Payments is positioned as a focus for JD to explore online financial business. JD dumped all previous third-party payment solutions and denied account access of other services in August 2013 including, AliPay, Sina Weibo, Tencent’s TenPay and WeChat, to prepare for its re-launch.
In recent news, JD.com has ended its cooperation with Sina Weibo, a Chinese microblogging service, and Alipay, the online payments unit of Chinese e-commerce company Alibaba.
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