Monday, October 10, 2005

Baidu opens up personal payment channels, denies MP3 becoming paid download service

Xinkuaibao(Leshing Huang reported)For a company solely depends on auctioned paid ranking service for revenue, Baidu is planning to open a second revenue source. As a preparation of launching personal paid service, Baidu has joined hands with both Industrial and Commercial Bank of China(ICBC) and Paypal respectively to build a personal online payment channel.

However, Baidu denied that it would enter e-commerce field. Baidu's VP Dong Liang said that what Baidu will provide is not an e-commerce platform. Baidu also denied that MP3 download would become a paid service item.

  It is reported that, ICBC and Baidu will jointly issue virtual card and open up special customer service line. ICBC will also provide Baidu's customers with state of the art online payment products. While Paypal is already world's largest online payment platform. According to Baidu, personal paid services such as Video.Baidu and Love.Baidu, etc will all collaborate with ICBC and Paypal.

  General manager of Baidu's strategic alliance, Xuyang Ren explained that, Virtual card is actually an online "special fund". Customers can transfer their money from their banks to this "virtual account", then use this fund to make automatic payments to purchase services like Video.Baidu and Love.Baidu, etc.


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9:00 AM  

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