The People’s Bank of China recently new granted third-party payment licenses to 27 non-financial institutions, including Baidu and Sina. Two Internet giants obtained the licenses via their payment sectors of Baifubao and SinaPay. The business scope of the licenses issued to the two companies, however, is limited to Internet Payment and prepaid card issuance and management.

Third-party payment license will enable the two companies to expand their businesses. Sina announced yesterday that an Alipay Wallet-like service, which needs the license, will be included in the upcoming new version of Sina Weibo apps.

Baidu Maps recently reached partnership with DiDi Dache, one of China’s hottest taxi apps, and Dianping. An employee of Baidu disclosed that the company is also developing an Alipay Wallet-like service Baiu Purse.  (source in Chinese).

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.