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Tenpay to Launch Credit Card Installment Service

DoNews, 6/25/09

Chinese Internet and wireless value-added services firm Tencent's (0700.HK) online payment system, Tenpay, has introduced a new credit card installment service. A spokesperson for Tenpay said the installment service is arranged as a bank loan to Tenpay users. When a user purchases a product through Tenpay, the bank will first transfer the amount of the payment to the vendor, after which the user will repay the bank in installments.

Keywords: 0700.HK credit card Internet online payment Tencent Tenpay e-commerce e-payment

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