Wednesday, 23 September 2020 01:42

JD Digits Plans Acquisition of 99Bill Corp.

 

JD Digits is planning to spend RMB1.6 billion (USD230 million) to obtain a second payment license by acquiring payment platform 99Bill Corp., which is currently controlled by Dalian Wanda Group Co. Ltd. While JD Digits already has a payment license, which allows it to provide card payment transactions services to merchants, it is limited to only Beijing. A second license would allow the company to expand its business nationwide as it seeks to bolster its growing financial services business for brick-and-mortar merchants and small businesses.

 

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