Shanda Jumps Into China’s Online Payments Sector

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Shanghai Youni Network Technology Company Limited, which is owned by Shanda, has launched the official edition of its first social payment product named Youni.

With mobile phone numbers as account IDs and based on the phone book contacts of users, Youni integrates mobile socialization and payment transactions between individuals.

Youni features convenient services and socialization between acquaintances. People who want to receive money do not need to register, download clients, or even stay online. They can get the money via a short message instead.

Youni also launched a platform to enable unused item trading between friends. In the future, it will provide more functions such as personal loans, carpools, remittances, and donations.


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