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Rumor: 360Buy to Establish Third-Party Payment Firm

Sohu IT, 6/19/12

An industry source revealed today that Beijing-based B2C e-commerce platform 360Buy is at work on plans to enter the online payment industry and establish its own third-party payment company.

Media reports today claimed that 360Buy recently appointed a director for the unnamed payment product, and is currently hiring for related positions.

According to a source in the investment industry, 360Buy is in talks with third-party payment companies for acquisitions or stock investments as part of its plans to enter the online payment industry.

A spokesperson for 360Buy declined to comment on the rumors.

Keywords: e-commerce Internet B2C 360buy third-party payment online payment e-payment

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