News to release upgraded Chinabank Payments

Wednesday 11 December 2013 10:19 CET | News

Online marketplace, former 360buy, has revealed plans to re-launch the upgraded version of Chinabank Payments at the end of 2013 or beginning of 2014 in an attempt to create a homegrown payment system.

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, 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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Keywords:, Chinabank Payments, homegrown payment system, online marketplace
Categories: Payments & Commerce
Countries: World
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