China Digital
China Unicom Releases Mobile Wallet App
China Unicom has unveiled its mobile payment service. The app can be obtained in several ways; customers can download the app directly to their smart phones, can get SIM cards pre-installed with the service, or can pop into China Unicom stores to get the app installed into their SIMs. Within the app, bank account information and transportation cards can be bundled, and in the future, the app will have fuel cards, membership cards, and e-coupons. China Unicom is currently testing the service in Beijing, Guangdong, Fujian, and Jiangsu.
Source: Tech Node
China Digital
Sina Weibo Making Moves For IPO
The recent rumor about Sina Weibo going IPO is apparently true, Jack Xu the CTO of Sina recently confirms this rumor according to local newspaper Nandu. It was around last week that journalists with Sohu IT started to spread the news about Sina getting ready for an IPO in 2014. Jack Xu informed reporters that he was happy that Twitter had filled an IPO before them, reason being that it would have been difficult to get investors on board if there was no existing business model for this particular type of service. Twitter’s IPO in a sense gives Weibo confidence to go public. Currently Sina Weibo is four years old along with 500 registerd accounts. They generate revenue from advertising, online gaming and other user-facing paid services. Alibaba’s recent collaboration with Weibo would guarantee Weibo a total of $380 million in the next three years. Jack Xu’s background at Cisco should continue to bring Sina stronger technological capabilities thus resulting in a more innovative company
Source: Tech Node
China Digital
Baidu’s Mobile Wallet SDK
Baifubao, Baidu’s payment unit, has released the Baidu Wallet SDK app, which is a mobile payment service. Game developers can offer the package to different distribution channels, and Wallet will distribute revenue to developers and said distribution channels. As of now, the service has mainly been applied to in-game payments, and integrates functions of payment, data analysis, and accounting management. The app offers more than 10 methods of payment and has gained access to more than 300 games. It might also expand to e-commerce, as well as the entirety of mobile Internet.
Source: Tech Node