China Tech Newsletter – Sept. 26th, 2016

Meituan-Dianping, the leading local services marketplace, has acquired Qian Dai Bao, a third-party payment service provider. Established in 2008, Qian Dai Bao was one of the first to obtain an official third-party payment license.

Meituan app currently accepts WeChat Payment, the mobile payment service of Tencent, Alipay, the online payment service of Alibaba’s finance arm, and credit and debit cards.


Xiaomi’s equity crowdfunding platform Micfunding launches today.

The company launched mobile payment service Mi Pay last month.


Weibo launches a multi-channel network (MCN) for video content creators.


Transportation network company Didi Chuxing announces investment in ofo, a bicycle-sharing platform.

Founded in 2014, ofo claims to have had over 1.5 million users from 20 cities and more than 500,000 daily rides.


Alipay, the online payment service of Alibaba’s finance arm, launches “Future Airport” program that will enable Chinese users to make payments at international airports. Ten international airports have joined the program.

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