Sina will soon launch a service to enable Weibo users to make online payments on credit, Dai Geng, vice GM of Sina Payments, told Nandu reporter (in Chinese).

Zhong An, the online-only insurance company jointly founded by Alibaba, Tenent and Ping An, will provide coverage for defaults on payments.

In early this year, Alibaba, who has established a financial arm Alifinance, disclosed that the company would offer mobile shopping credit line but hasn’t released it yet.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com