【Web Series Archives】
TikTok sibling Douyin is Web Series Archiveson track to buy a payment license from Chinese third-party payment provider Union Mobile Financial (UMF), a significant step for the short video app to enter the bank card-based offline payment field. According to a recent announcement from HyUnion Holding, the parent of UMF, Douyin needs to pay nearly RMB 1.4 billion for the license acquisition, which includes a basic transfer consideration of $750 million and net assets valued on the settlement date. “The purchase is to support offline transaction scenarios such as local services, providing a more convenient payment and service experience to users and merchants within Douyin,” said Douyin Pay’s spokesperson. The deal comes three years after Douyin launched its own payment service by acquiring Wuhan Hezhong Yibao, which obtained a third-party payment license from China’s central bank in 2014. [Caixin, in Chinese]
Search
Categories
Latest Posts
Even Fox News admits Kavanaugh hearing is a disaster for Republicans
2025-06-27 09:01Instagram has some sort of bug
2025-06-27 08:10Trump who? Tech giants join massive effort to uphold Paris Agreement
2025-06-27 06:48Popular Posts
Best early Prime Day deal: Save 40% on the Ember Mug at Amazon
2025-06-27 09:16Twitter reacts to The Ellen Show's last episode
2025-06-27 09:10Snitch tagging is ruining Twitter
2025-06-27 07:48Miami Heat vs. Los Angeles Lakers 2025 livestream: Watch NBA online
2025-06-27 07:24Featured Posts
New Google Doodle celebrates slavery abolitionist Mary Prince
2025-06-27 08:50Wordle today: Get the answer, hints May 29
2025-06-27 08:38Deborah Ramirez sends message of love to Dr. Ford before hearing
2025-06-27 07:04Five Free VPN Services You Should Check Out
2025-06-27 07:01Popular Articles
Canoo reportedly puts staff on 'mandatory unpaid break' for weeks
2025-06-27 09:30'Wordle' today: Get the answer, hints for May 31
2025-06-27 09:09Kavanaugh hearing viewers call C
2025-06-27 07:25Assassin's Creed Origins: How Heavy is It on Your CPU?
2025-06-27 06:54Newsletter
Subscribe to our newsletter for the latest updates.
Comments (96725)
Fast Information Network
Wordle today: The answer and hints for December 15
2025-06-27 09:13Highlight Information Network
The best video games of 2022 that we've played so far
2025-06-27 09:04Star Sky Information Network
Trump claims he wanted the UN to laugh at his speech, calls it 'great'
2025-06-27 07:55Free Roaming Information Network
LEGO launches new LGBTQ awareness campaign for Pride month
2025-06-27 07:42New Knowledge Information Network
Amazon Spring Sale 2025: The Eufy robot vacuum stick vacuum combo is on sale for the first time
2025-06-27 07:00