Screenshots of Meituan’s credit payment feature. (Image credit: TechNode)

Chinese services platform Meituan Dianping has unveiled a credit payment feature named Maidan, following its technology peers which have launched similar services.

Why it matters: Meituan is deepening its fintech offerings, an important component for platform’s core service businesses which require payment transactions.

  • With this push, the Chinese food delivery giant is competing head-on with Alipay,, and Tencent, which also have their own virtual credit payment tools.
  • The new feature will bring additional revenue through fees charged for installment payment services and late payments.

Meituan shares hit historical high after Golden Week surge

Details: The new financial service offers users credit to delay payments by a month, and interest-free loans for up to 38 days.

  • The credit payment option now supports all the major apps within the company’s ecosystem including Dianping, ride hailing service Meituan Dache, and grocery delivery service Meituan Maicai.
  • Meituan users qualify for credit lines from RMB 300 (around $43) to RMB 1,500 according to credit and spending histories on the app.
  • A select group of merchants and users have been testing the credit payment feature since September.

Context: The Hong Kong-listed firm reported RMB 1.33 billion ($191 million) in profits in the third quarter of 2019, a second consecutive quarterly profit since its September 2018 listing.

  • Companies that run online payment services in China must obtain a license, which the firm nabbed through its acquisition of a third-party payment startup Qiandai in 2016.
  • In addition to the company’s homegrown payment channel Meituan Pay, the app also supports popular payment tools Alipay, WeChat Pay, and Apple Pay.
  • The app works with local banks such as Bank of Shanghai, Bank of Guangzhou and Bank of Qingdao to issue joint co-branded credit cards. It also offers loan services through its micro-credit subsidiary Meituan Sankuai Micro-loan.
  • Which Tencent only launched its Fenfu credit payment service in late 2019, launched Baitiao in 2014 and Alipay debuted Huabei in 2015.
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Emma Lee

Emma Lee (Li Xin) was TechNode's e-commerce and new retail reporter until June 2022, when she moved to Sixth Tone to cover technology and consumption. Get in touch with her via or Twitter.

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