What Does Baidu’s New Payment Service Say About Alibaba’s Alipay Play?

News Source: ChinaTechNews.com

Chinese search engine provider Baidu announced the official launch of its online payments service Baidu Wallet.

Baidu Wallet will provide various financial services such as money transfers, payments, and recharges. This is another important Internet payment brand in China following Alibaba's Alipay's wallet and Tencent's WeChat payment service.

To boost its launch, Baidu launched a price-cutting promotional program for the wallet. Under this program, Baidu Wallet will charge a relatively low cooperation fee from its partners. Baidu revealed that Baidu Wallet will be first integrated into the company's own apps, including mobile Baidu, Baidu map, and Baidu group buying. At the same time, Baidu Wallet's super transfer service has cooperated with 129 banks around China, covering the entire country except Tibet. At present, the transfer service ...

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