Saturday, August 1, 2015   

Search engine Baidu launches mobile payment platform
(04-15 18:26)

Baidu Inc., which operates China's most popular search engine, formally launched its mobile payment platform "Baidu Wallet" on Tuesday.
The launch follows the release of similar products from major rivals, including Tencent's mobile application Wechat Payment last August and Alibaba's Alipay Wallet in January 2013.
Baidu Wallet provides money transfer, payment and wealth management services, according to Zhang Zhenghua, general manager of Baidu's payment branch Baifubao.
Mergers and acquisitions have been popular in the past year in China's Internet sector as online giants "BAT" -- Baidu, Alibaba and Tencent -- are speeding up development of their mobile Internet business.
The Nasdaq-listed Baidu closed a US$1.9 billion deal to acquire 91 Wireless Websoft, a major Chinese smartphone application distributor, last August.
In May, Baidu spent US$370 million to acquire the online video platform PPS in order to rival industry leader Youku Tudou. --Xinhua   
Other Business breaking news:
Russia's central bank cuts interest rate to 11 percent (07-31 20:11)
European stocks mixed (07-31 20:10)
(Greece crisis) Tsipras admits secret plan on eurozone exit (07-31 18:07)
Swiss central bank takes 50b franc hit (07-31 17:38)
Eurozone inflation steady, jobless rate unchanged (07-31 17:10)
Positive close for Hang Seng, Shanghai drops (07-31 17:03)
Dassault stake sale fattens Airbus reports to 1.5b euros (07-31 15:56)
Nikkei closes higher (07-31 14:30)
Honda earnings rise (07-31 14:29)
Sharp losses worsen to US$274m (07-31 14:26)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.