JD.com (formerly 360Buy), China’s leading online retailer, suspended the cooperation with AliPay and Sina Weibo today. The company just confirmed that it also halted the tie-up with Tencent’s TenPay and WeChat. JD dumped Alipay payments solution in 2011.
Users are not allowed to log in JD.com with their Alipay or Sina Weibo accounts. They have to register an independent JD account in order to log in the online shopping platform.
This decision may aims to prepare for the launch of Chinabank Payments, a payment company JD acquired in October 2012, which is planned to roll out at the end of this year.
According to industry insiders, payment accounts are valuable resources for payment tools, because it can track the behaviors of customers and influence the cash flow of deposits in the accounts. From this perspective, establishing an independent payment account system is an inevitable path for JD to layout in payment sector (report in Chinese).